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http://www.bloomberg.com/news/2015-01-15/apple-google-agree-to-415-million-in-antitrust-hiring-deal-1-.html Apple Inc. (AAPL) and Google Inc. (GOOGL) agreed to a $415 million settlement, $90.5 million more than a previously rejected accord, to end an embarrassing chapter of litigation showing how they and other Silicon Valley companies conspired to avoid hiring one another’s employees. The agreement, first disclosed Jan. 13 with no details on terms and filed today in full, requires the approval of U.S. District Judge Lucy H. Koh in San Jose, California, who in August rejected the initial $324.5 million accord on grounds it didn’t offer enough money for affected workers. Koh said the companies, which include Adobe Systems Inc. (ADBE) and Intel Corp. (INTC), should pay at least $380 million given “ample evidence” of antitrust violations that might result in damages of more than $9 billion if the case went to a jury. For the companies, approval of the new accord would avoid the risk of a trial scheduled for April and finish off a 2011 lawsuit that produced troves of internal e-mails detailing anticompetitive agreements among the chief executive officers at technology giants. The four months it took to hammer out the new agreement suggests “serious sustained negotiation” between the two sides, Orly Lobel, a law professor at University of San Diego who specializes in labor and employment issues, said in an e-mail. “My prediction is she will approve the settlement,” Lobel said, referring to Koh. “It is not a bad result even if it is still fairly low relative to the potential high win when a trial proceeds. But that’s typical for settlements.” Adobe Employee One of the objections to the original settlement was filed by former Adobe employee Michael Devine, who left the company in 2008 and was a lead plaintiff in the case. Devine’s lawyer, Daniel Girard, argued that if workers’ lawyers hadn’t initially agreed to settle for an average payout of about $3,572, they could have won damages at trial of as much as $141,331 each. Daniel Girard, a lawyer representing Devine, said the new settlement comes out to about $6,400 for each employee. Girard said that when a San Francisco-based appeals court agreed in September to consider the companies’ request to overrule Koh’s rejection of the initial settlement, it presented a “meaningful risk.” That factored into Devine’s decision to support the $415 million agreement, Girard said. Devine “has signed on to the settlement but he believes everyone should make their own assessment,” Girard said. “We believe this is the maximum number that can be obtained at this point in the litigation.” Kristin Huguet, a spokeswoman for Cupertino, California-based Apple, and Aaron Stein, a spokesman for Mountain View, California-based Google, declined to comment on the new settlement agreement. Rejections of antitrust settlements are rare, especially when objections are based on the amount and not the law. The rejected settlement would have given the employees’ lawyers $81 million in fees plus $1.2 million in costs. Intuit Inc., Walt Disney Co. (DIS)’s Pixar animation studio and visual-effects specialist Lucasfilm Ltd. previously settled with the workers for $20 million. The case is In re High-Tech Employee Antitrust Litigation, 11-cv-02509, U.S. District Court, Northern District of California (San Jose). To contact the reporter on this story: Joel Rosenblatt in San Francisco at jrosenblatt@bloomberg.net To contact the editors responsible for this story: Michael Hytha at mhytha@bloomberg.net Peter Blumberg, David Glovin
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Jan 16, 2015 15:29
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[crowd starts chanting 'NO DEAL' ]
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Jan 16, 2015 15:30
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pity bump
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Jan 16, 2015 15:35
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Lol if you arn't an investment banker
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Jan 16, 2015 15:39
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pretty shameful that this story has largely been flying under the radar. only the microsoft nerds can smugly point out this story but there aren't any of them left. all other nerds see their idols with dirty hands and would rather pretend like this doesn't exist
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Jan 16, 2015 15:40
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everyone already knows steve jobs was a horrible person
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Jan 16, 2015 15:42
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do no evil :iamafag:
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Jan 16, 2015 15:46
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Shaggar posted:everyone already knows steve jobs was a horrible person That moron died because he was too stupid to realise the benefits of cancer treatment over eating fruit all day. Lol
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Jan 16, 2015 15:51
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I still stand by my idea that tech companies don't turn completely hilariously evil until they hire their first MBA after that it's drinking cups of orphan blood
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Jan 16, 2015 16:04
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Necc0 posted:only the microsoft nerds can smugly point out this story but there aren't any of them left. We're still here, we're just polite. 
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Jan 16, 2015 16:44
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maybe now that tech workers have seen the contempt that their managers have for them and the lack of real restitution from the legal system they will form a union to repreaaaaaaahahahahahahahahha
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Jan 16, 2015 17:23
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Busta Chimes.wav posted:maybe now that tech workers have seen the contempt that their managers have for them and the lack of real restitution from the legal system they will form a union to repreaaaaaaahahahahahahahahha Yes the wages of the average IT worker which are typically very low definitely necessitates the formation of a union.
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Jan 16, 2015 18:24
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Just took some time off from my six figgy job to go to the union meeting for underpaid IT workers with balls the size of peanuts
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Jan 16, 2015 18:26
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black man 3 posted:Yes the wages of the average IT worker which are typically very low definitely necessitates the formation of a union. yes the wages of the ceos of apple, google, disney etc. which are typically very low definitely necessitates illegal wage fixing agreements
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Jan 16, 2015 18:50
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Busta Chimes.wav posted:yes the wages of the ceos of apple, google, disney etc. which are typically very low definitely necessitates illegal wage fixing agreements Stfu lol.
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Jan 16, 2015 19:01
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what if you had an actual peanut for a scrotum. imagine your little nuts rattling around in there. i'm imagining it and it's more upsetting than arousing, tbh
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Jan 16, 2015 19:03
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As a Millennial I posted:what if you had an actual peanut for a scrotum. imagine your little nuts rattling around in there. i'm imagining it and it's more upsetting than arousing, tbh nuts inside nuts...............
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Jan 16, 2015 19:06
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programmers and it workers are vastly overpaid for their efforts especially since they do not Do Labor
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Jan 16, 2015 19:47
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surely they could throw a cool million my way and no one would be worse off but i would be much better off fuckin selfish pricks Stymie posted:programmers and it workers are vastly overpaid for their efforts especially since they do not Do Labor i agree and do not agree. are you a socalism
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Jan 16, 2015 20:17
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Stymie posted:programmers and it workers are vastly overpaid for their efforts especially since they do not Do Labor steve jobs was a real socialist hero for trying to reign in programmer wages
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Jan 16, 2015 20:43
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black man 3 posted:That moron died because he was too stupid to realise the benefits of cancer treatment over eating fruit all day. Lol
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Jan 16, 2015 20:45
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black man 3 posted:That moron died because he was too stupid to realise the benefits of cancer treatment over eating fruit all day. Lol tbf drugs kill a lot of people
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Jan 16, 2015 21:01
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so does time makes fools of us all right time to get out of bed and go eat some bacon! 
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Jan 16, 2015 21:05
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Displeased Moo Cow posted:so does time lame i already had my bacon i was up at 6.30. hung out washing. wife got home from night shift. made her bacon buttie. now she is alseep and its meant to go to 31 today and she has to sleep all day
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Jan 16, 2015 21:07
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echinopsis posted:tbf drugs kill a lot of people Thanks for the observation guy who wears makeup all the time.
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Jan 16, 2015 21:07
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black man 3 posted:Thanks for the observation guy who wears makeup all the time. echinopsis is one of the good ones
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Jan 16, 2015 21:10
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black man 3 posted:Thanks for the observation guy who wears makeup all the time. lol i did it once. thanks for being a dick
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Jan 16, 2015 21:11
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lol
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Jan 16, 2015 22:58
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we dont care about this gas this thread punish op by making him ik
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Jan 16, 2015 22:59
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echinopsis posted:lame i already had my bacon I made a bacon butte too it was good sucks to be you, kids were up at six this morning but I just chucked some breakfast in a bowl and switched on the tv and went back to bed. that's parenting.
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Jan 17, 2015 01:09
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black man 3 posted:That moron died because he was too stupid to realise the benefits of cancer treatment over eating fruit all day. Lol Yea. He was a loving moron piece of poo poo. YOSPOS worships him because they're even stupider than someone who thought eating fruit cured cancer.
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Jan 17, 2015 01:15
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hugs cure cancer dipshit
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Jan 17, 2015 01:56
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Necc0 posted:Koh said the companies, which include Adobe Systems Inc. (ADBE) and Intel Corp. (INTC), should pay at least $380 million given “ample evidence” of antitrust violations that might result in damages of more than $9 billion if the case went to a jury...
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Jan 17, 2015 02:04
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I don't get it either unless there's some sort of backdoor deal for the original plaintiffs
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Jan 17, 2015 02:16
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Necc0 posted:[crowd starts chanting 'NO DEAL' ]
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Jan 17, 2015 03:28
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Necc0 posted:[crowd starts chanting 'NO DEAL' ]
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Jan 17, 2015 03:30
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Stymie posted:programmers and it workers are vastly overpaid for their efforts especially since they do not Do Labor this is true but at the same time any money taken from people like jobs and sergei is good
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Jan 17, 2015 03:30
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everyone on the teams in question should have been making millions
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Jan 17, 2015 03:31
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finally with this settlement america can enter a new dawn as a workers paradise *is still at work at 9pm*
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Jan 17, 2015 03:32
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echinopsis posted:now she is alseep and its meant to go to 31 today and she has to sleep all day then turn on the heater so she won't freeze dummy
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Jan 17, 2015 07:33
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