Business News Roundup, Oct. 19
Comcast Corp.’s DreamWorks Animation SKG agreed to pay $50 million to resolve claims it colluded with other animation studios not to hire one another’s workers in California, where allegations of no-poaching pacts have plagued technology companies for years.
DreamWorks will cooperate with lawyers for former animators and visual effects employees who are pressing forward with their class-action case against Walt Disney Co. and its Lucasfilm and Pixar units, plaintiffs’ attorneys said in a court filing Monday seeking approval of the accord.
Two Sony Pictures units and Blue Sky Studios already have won preliminary approval for settlements totaling $19 million.
The antitrust suit against the California-based companies is based on allegations that they conspired to suppress wages through a “gentleman’s agreement” not to solicit each other’s workers.
Apple, Google, Inc., Intel Corp. and Adobe Systems Inc. last year paid $415 million to resolve their part in a similar case that was brought against a group of Silicon Valley technology companies that had been investigated for collusion by the U.S. Justice Department.
In a follow-on case, LG Corp. and Samsung Electronics Co. were sued in September over claims they conspired to suppress wages by agreeing not to recruit each other’s employees.
Comcast spokeswoman Jennifer Khoury didn’t immediately respond to an email seeking comment on Monday’s settlement.
Alphabet Inc. shares hit a record high on Tuesday after mostly positive reviews for its new Pixel phones, the first line of phones designed in-house by its Google unit.
Tesla Motors Inc. said buyers who place new orders for Model 3 vehicles can expect to begin receiving deliveries as soon as mid-2018, with production starting as scheduled late next year.
Tesla shares briefly pared gains after the news was initially interpreted as a delay in the introduction of the vehicle.
The Model 3 update comes as Tesla is scheduled to unveil a new product Wednesday, leading to speculation about what the company will announce.
“This gives the Airbnb host an incredible opportunity to understand the benefit of solar and to really differentiate their property,” said Toby Corey, president of global sales and customer experience at SolarCity.