Disney Resolves Cross-Hiring Lawsuit and 2 Other Dow Movers to Watch

The Walt Disney Co. (NYSE:DIS): Current price $66.066

Some Disney divisions have tentatively resolved a lawsuit claiming they violated United States antitrust law by agreeing with its rivals not to recruit each other’s employees. In an amended complaint filed on Sept. 13, 2011, a group of high-tech employees sued the businesses, alleging that industry arrangements not to pursue cross-hires comprised a conspiracy “to fix and suppress the compensation of their employees.” Now, the animation studio Pixar and the visual-effects specialist Lucasfilm Ltd. told United States District Judge Lucy Koh in San Jose that they have agreed to settle all claims, according to court papers filed on July 12. The plaintiffs’ lawyers said in a letter to Koh, “The parties anticipate completing documentation of the proposed settlement and presenting it for the court’s consideration in the near future.”

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