Apple Sued by Shareholders Over Anti-Poaching Agreements with Other Companies
Apple shareholder R. Andre Klein is suing Apple on behalf of all of its shareholders over the company's anti-poaching agreements, reports Patently Apple.
The lawsuit claims that Apple's no-hire agreements with other companies including Google, Adobe, and Intel caused the company to grossly mismanage its assets, mislead its investors, breach the duty of "honest services", and hurt its overall value. The suit seeks damages for all shareholders through a jury trial, and names a number of Apple executives as individual defendants including current CEO Tim Cook and even former CEO Steve Jobs.
The suit follows a rejection of a $324 million settlement proposal between the four tech companies and tech workers by a California court. In the filing's court documents, Judge Lucy Koh stated that the total settlement "falls below the range of reasonableness" when compared a $20 million settlement given last year by Pixar, Lucasfilm, and Intuit. Comparatively speaking, Apple and others should pay a minimum of $380 million.
Employees of the various tech companies originally brought forth a lawsuit against the companies no-hire agreements in 2011, with a trial revealing anti-poaching tactics dating back to 2005. The United States Department of Justice intervened in the case in 2010, forcing the companies to stop engaging in anti-poaching agreements. However, the class-action civil lawsuit brought against the aforementioned companies by over 64,000 employees will remain open until a settlement has been reached.
Popular Stories
Apple's online store is going down for a few hours on a rolling country-by-country basis right now, but do not get your hopes up for new products.
Apple takes its online store down for a few hours ahead of Black Friday every year to tease/prepare for its annual gift card offer with the purchase of select products. The store already went down and came back online in Australia and New Zealand, ...
Apple's first foldable iPhone is expected to launch alongside the iPhone 18 Pro models in fall 2026, and it's shaping up to include three standout features that could set it apart from the competition.
The book-style foldable will reportedly feature an industry-first 24-megapixel under-display camera built into the inner display, according to a recent JP Morgan equity research report. That...
We've been focusing on deals on physical products over the past few weeks, but Black Friday is also a great time of year to purchase a streaming membership. Some of the biggest services have great discounts for new and select returning members this week, including Disney+, Hulu, Paramount+, Peacock, and more.
Note: MacRumors is an affiliate partner with some of these vendors. When you click a...
Apple recently teamed up with Japanese fashion brand ISSEY MIYAKE to create the iPhone Pocket, a limited-edition knitted accessory designed to carry an iPhone. However, it is now completely sold out in all countries where it was released.
iPhone Pocket became available to order on Apple's online store starting Friday, November 14, in the United States, France, China, Italy, Japan, Singapore, ...
We've been focusing on deals on physical products over the past few weeks, but Black Friday is also a great time of year to purchase a streaming membership. Some of the biggest services have great discounts for new and select returning members this week, including Apple TV, Disney+, Hulu, Paramount+, Peacock, and more.
Note: MacRumors is an affiliate partner with some of these vendors. When...
Singapore has ordered Apple to block or filter messages on iMessage that impersonate government agencies, requiring the company to implement new anti-spoofing protections by December as part of efforts to curb rising online scams, the Straits Times reports.
Singapore's Ministry of Home Affairs (MHA) said that it had issued an Implementation Directive to Apple under the Online Criminal Harms...
Black Friday is finally here, and as always this will be the best time of the year to shop for great deals, including popular Apple products like AirPods, iPad, Apple Watch, and more. In this article, the majority of the discounts will be found on Amazon.
Note: MacRumors is an affiliate partner with some of these vendors. When you click a link and make a purchase, we may receive a small...
Apple's disappointing iPhone Air sales are causing major Chinese mobile vendors to scrap or freeze their own ultra-thin phone projects, according to reports coming out of Asia.
Since the iPhone Air launched in September, there have been reports of poor sales and manufacturing cuts, while Apple's supply chain has scaled back shipments and production.
Apple supplier Foxconn has...
