Exclusive: Tech companies agree to pay over $300 million to settle hiring lawsuit

Reuters News
Posted: Apr 24, 2014 5:28 PM

By Dan Levine

SAN FRANCISCO (Reuters) - Four major tech companies including Apple and Google have agreed to pay $324 million to settle a large antitrust lawsuit over no-hire agreements in Silicon Valley, according to sources familiar with the deal.

Tech workers filed a class action lawsuit against Apple Inc, Google Inc, Intel Inc and Adobe Systems Inc in 2011, alleging they conspired not to poach one another's employees in order to avert a salary war. Trial had been scheduled to begin at the end of May on behalf of roughly 60,000 workers in the class.

(Reporting by Dan Levine)