More than 60,000 California engineers are poised to collect a windfall, after four of Silicon Valley’s largest employers agreed to settle a closely-watched class action suit that alleged the companies entered into illegal pacts not to poach one another’s employees.
A court filing, first reported by Reuters, shows that Apple(s aapl), Google(s goog), Adobe(s adbe) and Intel(s intc) have agreed to settle the case, but does not provide financial details. Any settlement will have to be approved by the court, and is likely to include a contingency of around 20 percent to the lawyers who brought the case.
The case, filed in 2011, has been a hot topic for gossip in Silicon Valley, in part because of salacious details such as the role of late Apple CEO Steve Jobs in organizing and enforcing the pact, and the mysterious murder of one of the named plaintiffs in the case. Recent emails have also…
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