Apple, Google, Intel, and Adobe revealed earlier this week they have a new settlement proposal in the class action lawsuit alleging they engaged in anti-competitive practices by agreeing to not hire employees away from each other. Now more details about the revised settlement offer have surfaced, including an offer to pay out US$415 million, according to Bloomberg, which comes in at $90 million higher than the original $325 million proposal.
Apple, Google, Intel, and Adobe offered $415M in anti-poaching settlement
Tech industry workers filed a class action lawsuit against the companies claiming their salaries had been artificially capped because of an employee anti-poaching agreement. Intuit, Pixar, and Walt Disney Co. were also named in the suit, but have already reached a settlement with the plaintiffs.
Emails between company leaders, including Apple's Steve Jobs and Google's Eric Schmidt, supported the accusations, and seeing those emails along with other supporting evidence laid out in court would've no doubt been very embarrassing for all of the companies. They also faced billions of dollars in costs if the case went to trial.
In hopes of avoiding a painful legal fight, the four companies offered a $325 million settlement last year that Judge Lucy Koh rejected as too low. They appealed her ruling, but ultimately decided to present their new alternate settlement proposal at $415 million.
The new settlement offer comes in above the minimum $405 million Judge Koh suggested, which means there's a much higher chance she'll give her stamp of approvale this time.
Judge Koh hasn't said yet when she expects to announce her decision.