Apple to settle A123 poaching suit

Firms say that they are working out final details of the deal

Photo by: Reuters
Photo by: Reuters

Updated Jul 28, 2015

Apple and battery maker A123 systems are close to settling a three-month old lawsuit claiming the smartphone and computer maker poached A123 engineers and chemists to develop a large scale battery-unit, according to a recent court filing.

“A123 and Apple have reached an agreement, signed a term sheet, and are in the process of drafting a final settlement agreement," said the filing, disclosed on Monday.

A123 sued Apple in February in Massachusetts accusing the tech giant of stealing key engineers working on critical projects. Apple denied the allegations, saying that they were based “solely on labels and conclusions.”

The court filings show that both companies have been attempting to reach a settlement since early March.

Once given a $250 million grant by US Ministry of Energy, A123 bankrupted in 2012 and was sold to Chinese company Wanxiang.  A123’s government-backed projects were excluded from the deal due to pressure from lawmakers and retired military officials. 

TRTWorld and agencies