Wednesday, April 30, 2014
Tech Giants Settle Antitrust Suit
64,000 engineers filed a class action suit against Apple, Google, Intel and Adobe. The suit contended that the firms had agreed not to poach engineers from each other. The engineers argued that this reduced their potential wages. The tech giants agreed to a $300 million settlement which amounts to only a few thousand dollars for each of the plaintiffs in the suit. It would appear that the tech giants were the winners in this settlement. It is pretty clear that they cooperated with each other to restrict competition for talented engineers. The settlement is small change to these companies and for the engineers. There is a link to the documents pertinent to the suit and the settlement in the article.