Apple, Google, Intel and Adobe Settle Lawsuit With Employees

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Apple, Google, Intel Corp and Adobe Systems are paying $324.5 million to settle the claims of employees that the companies conspired to not acquire each other’s talent, thus limiting competition.

The settlement includes the four major Silicon Valley companies and around 64,000 employees. The plaintiffs might also look to get 25 percent of the settlement amount to cover legal costs.

Originally the lawsuit was filed in 2011. It accused the companies of trying to limit competition and keep the wages low for programmers, engineers and other technical employees. The lawsuit was seeking a potential $9 billion in damages.

The settlement announced on Thursday gives the employees a few thousand dollars a piece on average.

Details and photo courtesy of Reuters