Apple, Google, Intel, Adobe Reach $415 Million Settlement In Hiring Class Action Suit

Apple, Google, Intel and Adobe have collectively agreed to a new settlement worth $415 million that would put an end to a class-action lawsuit that alleges the four companies had illegal agreements to avoid poaching one another's employees, according to reports.

The antitrust lawsuit alleges that by agreeing not to hire one another's employees, the tech companies were able to retain talent without paying higher wages. The four companies had reached a settlement agreement worth $324.5 million with the plaintiffs' lawyers early last year, but it was thrown out by the federal judge overseeing the case after one of the plaintiffs complained the figure was too low.

The companies filed the new settlement agreement with the court Tuesday, but it did not include the new figure, which was reported by the New York Times Wednesday. Should the judge accept the new settlement, the 64,000 class-action plaintiffs will likely get a little more than $1,000 each while their lawyers will make out with millions.