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]
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]