EXCLUSIVE-Tech companies agree to pay over $300 mln to settle hiring lawsuit

Source: Reuters - Thu, 24 Apr 2014 21:27 GMT
Author: Reuters
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By Dan Levine

SAN FRANCISCO, April 24 (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)

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