In a twist on the usual noncompete case, four giant tech companies, Apple, Google, Adobe and Intel, will pay $415 million to settle a case alleging that they secretly colluded and agreed not to hire one another's employees -- a noncompete among employers. The case affects approximately 64,000 employees and covers the time span 2005-2009. Apple impresario Steve Jobs was shown by emails to be the conniving ringleader amongst the conspirators. A case making similar claims against Intuit, Pixar and Lucasfilms was settled last year for $20 million.
Source: AP
Basically, at the core of this case is a cartel among these giant and incredibly rich (at the end of 2014 Apple had cash reserves of $155 billion; the state of Kentucky, by contrast, projects $10 billion in General Fund receipts in FY 2016) companies to suppress the earnings of their most talented employees. Too much ain't enough, as Tom Petty sang.
Lexington, Kentucky employment lawyer advises and represents individuals and employees regarding noncompete employment agreements; contact him at 859-254-7076.
