Apple settling lawsuit with A123 Systems

Updated

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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Dan Pye

Dan Pye was a news editor at iLounge. He's been involved with technology his whole life, and started writing about it in 2009. He's written about everything from iPhone and iPad cases to Apple TV accessories.