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News
April 22, 2014

In the News – April 22, 2014

The New York Times editorial board weighs in on the impending settlement in the antitrust lawsuit, “pitting 64,613 software engineers against Google, Apple, Intel and Adobe.” The plaintiffs assert they lost up to $3 billion in wages from 2005-2009, “when the companies colluded in a scheme not to solicit one another’s employees.” The Times uses the cases to push for, “a re-energized Justice Department, to pursue tough cases and settlements against industry collusion, discrimination and other illegal practices that allow employers to deny employees their rightful pay.”  (New York Times)

Novartis and GlaxoSmithKline announced a reported more than $20 billion worth of transactions that restructure the two pharmaceutical companies. The Wall Street Journal reports that Novartis will acquire Glaxo’s oncology unit; Glaxo will acquire Novartis’ vaccines business; and, the two companies will merge their consumer health businesses under Glaxo’s management. (Wall Street Journal)

Dozens of the largest U.S. stock exchanges, brokerages and high-frequency trading firms were hit with a class action lawsuit by the city of Providence, Rhode Island accusing them of manipulating the U.S. securities markets.  (Reuters

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