Apple, others likely to reach $415M settlement in poaching lawsuit (Update: settlement approved)

A U.S. judge appears ready to accept a $415 million offer to settle a lawsuit accusing Apple and three other Silicon Valley companies of conspiring to keep employee wages low, Reuters reports. U.S. District Judge Lucy Koh rejected an earlier $324 million offer as too low after one of the plaintiffs objected. Apple, Intel, Google and Adobe are accused of agreeing not to recruit employees from the other companies, limiting job mobility to keep salaries lower. The lawsuit, filed in 2011, was largely based on emails from Apple co-founder Steve Jobs and leaders at the other rival companies.

Update: Judge Koh has tentatively approved the settlement, the Associated Press reports, stating that she was satisfied after the companies increased their earlier offer. The tentative approval is to allow for comments prior to granting a final approval at a hearing scheduled on June 9.

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