Tech Companies Agree to Settle Wage Suit

Four big Silicon Valley technology companies agreed to settle a lawsuit in which 64,000 employees accused them of conspiring not to recruit each other's workers, depressing wages.

Terms of the settlement involving Apple, Google, Intel and Adobe Systems weren't immediately released. The settlement was confirmed by Kelly Dermody, a lawyer for the plaintiffs at Lieff Cabraser Heimann & Bernstein LLP.

"This is an excellent resolution of the case that will benefit class members," Dermody said.