“The dollar amount is now on the record,” Robert Faturechi reports for The Los Angeles Times. “Apple, Google and other tech giants accused of artificially suppressing wages by conspiring not to poach each other’s talent have agreed to settle a lawsuit filed by their employees for $324.5 million.”

“The approximate dollar amount, stipulated in settlement records filed in federal court late Thursday, had been an open secret in Silicon Valley in recent weeks, though attorneys had declined to confirm the figure,” Faturechi reports. “It still needs to be approved by U.S. District Judge Lucy Koh in San Jose. If she does, there will surely be grumbling among tech employees who have publicly complained that Apple, Google, Intel Corp. and Adobe Systems Inc. would be losing just a fraction of the $3 billion they allegedly saved by suppressing wages.”

Faturechi reports, “Each class member is estimated to get a few thousand dollars.”

Read more in the full article here.

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