Apple Sued by Shareholders Over Anti-Poaching Agreements

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Posted August 16, 2014 at 3:28am by iClarified

Apple is being sued by shareholders over its anti-poaching agreements, according to a verified derivative complaint. Apple shareholder R. Andre Klein is suing on behalf of all shareholders and is seeking to remedy the "wrong doing" committed by Apple's senior directors.

The suit claims that the no-hire agreements been Google, Adobe, and Intel has misled investors, caused millions in damages, and hurts the image of the company. The suit seeks damages for all shareholders and lists some top senior executives, including Tim Cook as defendants.

Steve Jobs was also mentioned in the suit, as Klein attacked his "zealous pursuit of profits."

"Jobs's conduct is a reminder that even widely respected businessmen can knowingly commit unlawful acts in the zealous pursuit of profits."

"In this case, Jobs and the other individual defendants knowingly caused Apple to enter into agreements that violated California law and US antitrust laws."

This recent suit comes just as US Judge Lucy Koh rejected a $324.5 million proposed settlement that was reached earlier this year between the companies.

Read More [via Sky News]

Apple Sued by Shareholders Over Anti-Poaching Agreements

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Headbanger - August 18, 2014 at 3:43am

To me this sounds like someone's jealous over apples profit margin.

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Kevin - August 17, 2014 at 8:19am

Everybody wants money from Apple!.

ratGT - August 16, 2014 at 5:10pm

Curiously enough, all these aggressive attacks and weird lawsuits only occur to Apple. There's no other electronics/software manufacturer that attacked as much as Apple is. Is this a coincidence? I don't think so!...

greatwhitehat - August 16, 2014 at 5:45am

Wow, the US legal system is really messed up. You can sue for just about anything. "Oh I was stupid and used a vacuum cleaner in my ass which led to huge hospital bills. But the manufacturer did not warn me about the dangers of vacuuming my ass so I will sue them". Use your heads and estimate risk before you do something. Don't blame others for your mistakes.

Adam - August 16, 2014 at 2:17pm

You actually miss stated it. You literally can sue anybody for anything. It's a matter of winning. I can sue you for having blue eyes, obviously I won't win anything though

greatwhitehat - August 16, 2014 at 2:28pm

The problem I see with it is that it encourage people to turn off their brain. Maybe that is the idea...

paulMOGG - August 16, 2014 at 4:13am

So let's get this right ... Apple share holders are suing apples directors for anti poaching which the didn't do ? And why would the shareholders do that to their own company ? Or is it tat the apple share holders can make money from their own company by suing them ? This seems all very hard basket to understand a

Ken - August 16, 2014 at 3:35am

"Zealous pursuit of profits"; like what this lawsuit is all about?

gamerscul9870 - August 16, 2014 at 3:49am

Maybe they're samsung fanboys.