Apple settling lawsuit with A123 Systems

Apple is close to settling a lawsuit brought by battery maker A123 Systems earlier this year, The Boston Globe reports. A123, which makes large lithium-ion batteries for vehicles, accused Apple of poaching five of the company’s key engineers last June – fueling speculation that the engineers were working on Apple’s rumored electric car project. Apple asked a judge to dismiss the case in March to no avail. The two sides reported Tuesday that they “have reached an agreement, signed a term sheet, and are in the process of drafting a final settlement agreement.” The terms of the agreement haven’t been made public.

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