Finally, four firms of Silicon Valley technology have reached a settlement for a lawsuit. The court case alleges that the four tech companies have infringement antitrust lawsuits.
Google, Intel, Apple and Adobe system were involved in the lawsuit which claims that the companies agreed that they would not poach workers of each other. Such kind of agreement is against the antitrust laws of the country.
The analysts were closely observing the lawsuit which was filed in 2011. Lucy Koh, the U.S District Judge rebuffed a settlement offer of $324.5 million. He stated that the offered amount was low as compared to the violation of antitrust laws. Hence, it was expected that the case would cause big damages to the four big tech companies of the world.
The emails of Steve Jobs, Eric Schmidt and other companies are the biggest evidence for the lawsuit. In that emails, the head of the four tech companies agreed to avoid poaching each other’s engineers. The agreement allowed companies to keep low salary scale of the high engineers.
Surprisingly, the court filing of Tuesday verified that the case is resolved. However, the companies have kept the terms and conditions of the settlement in dark.
The spokesman of Google, Intel and Adobe refused to make any comment on the issue. Nonetheless, Intel’s spokesman confirms that the company does not wish to disclose the amount of settlement.