Stories
Slash Boxes
Comments

SoylentNews is people

Silicon Valley Wage-Fixing Class Action Lawsuit Settled at $415 Million

posted by cmn32480 on Friday September 04 2015, @10:50AM   Printer-friendly
from the the-lawyers-got-how-much dept.

takyon writes:

From The Register:

Apple, Google, Adobe, and Intel's $415m settlement with Silicon Valley techies over wage-fixing accusations has been formally approved by a judge.

On Thursday, Judge Lucy Koh, sitting in the northern district court of California, gave her approval [PDF] to a deal that will see the tech giants compensate workers for potential lost wages related to their illegal "no-poaching" pact.

[...] After paying off the lawyers, the money will be distributed among the 64,466 class-action members making up the plaintiffs in the case. Another 56 people opted out of the settlement, reserving their right to pursue individual cases.

Apple, Google, Adobe, and Intel were the four remaining holdouts in the case over a large-scale conspiracy by Silicon Valley firms not to poach each others' employees in an effort to slow escalating wages. The pacts were said to involve executives in the companies' highest ranks, including Apple co-founder and longtime CEO Steve Jobs.

Original Submission

 
This discussion has been archived. No new comments can be posted.
Silicon Valley Wage-Fixing Class Action Lawsuit Settled at $415 Million | Log In/Create an Account | Top | 22 comments | Search Discussion
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.

  • (Score: 2) by isostatic on Friday September 04 2015, @02:33PM

    by isostatic (365) on Friday September 04 2015, @02:33PM (#232254) Journal

    Invisible hand! Job creators! Commies!

    Starting Score:    1  point
    Karma-Bonus Modifier   +1  
    Total Score:   2  

  • (Score: 2) by skullz on Friday September 04 2015, @02:51PM

    by skullz (2532) on Friday September 04 2015, @02:51PM (#232263)

    Get back in your control pen, ur, cubicle, cog!

    I think the only thing this will do is get the Valley folks to make it harder to get caught next time. Secret codes, like drug deals. "Yo, Narayen my man, its Cook. I heard that one of my ungrateful PINAPPLEs was MOON LANDING for a ALABAMA RIDE spot over there. I did you a solid last month when one of your PINAPPLEs tried MOON LANDING over here. I would appreciate it if the FUEL in the MOON LANDER wasn't more than $100k and no maternity. Thanks, bro."