by Thomas M. McInerney, Esq., Ogletree Deakins, San Francisco
Four major Silicon Valley-based tech companies—Apple, Google, Intel and Adobe Systems—announced a settlement in April in a closely watched lawsuit accusing them of conspiring to hold down salaries in the tech industry. The settlement came just weeks before the case was scheduled to go to trial in San Jose.
Although the terms of the settlement are not yet public, one news report indicates that the four companies agreed to pay a total of $324 million to end the lawsuit, which was filed by tech workers in a class action that remains pending in the U.S. District Court for the Northern District of California.
Hiring collusion alleged
The suit stems from a U.S. Depart-ment of Justice (DOJ) inquiry into the hiring practices of Silicon Valley businesses that revealed that companies had brokered agreements not to compete for one another’s engineers.
In 2010, the DOJ conclu...(register to read more)