An anonymous reader writes ""Apple has more than $150 billion in the bank, eclipsing the combined cash reserves of Israel and Britain. Google, Intel and Adobe have a total of about $80 billion stored up for a rainy day.
Against such tremendous cash hoards, $324 million is chump change. But that is what the four technology companies have agreed to pay to settle a class action brought by their own employees.
The suit, which was on track to go to trial in San Jose, Calif., at the end of May, promised weeks if not months of damaging revelations about how Silicon Valley executives conspired to suppress wages and limit competition. Details of the settlement are still under wraps.
“The class wants a chance at real justice,” he wrote. “We want our day in court.”
He noted that the settlement amount was about one-tenth of the estimated $3 billion lost in compensation by the 64,000 class members. In a successful trial, antitrust laws would triple that sum.
“As an analogy,” Mr. Devine wrote, “if a shoplifter is caught on video stealing a $400 iPad from the Apple Store, would a fair and just resolution be for the shoplifter to pay Apple $40, keep the iPad, and walk away with no record or admission of wrongdoing? Of course not.”
“If the other class members join me in opposition, I believe we will be successful in convincing the court to give us our due process,” Mr. Devine said in an interview on Sunday. He has set up a website, Tech Worker Justice, and is looking for legal representation. Any challenge will take many months. The other three class representatives could not be reached for comment over the weekend.""
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