By Michael Praats | March 16, 2021 at 11:44 AM EDT - Updated March 16 at 12:13 PM
WILMINGTON, N.C. (WECT) - Competition is one of the underlying principles of a free-market economy. Now, two of Wilmington’s leading technology companies are facing a possible class-action lawsuit after allegations of violations of federal antitrust law to stifle competition and keep employee pay low.
Live Oak Bank and nCino share a common family as executives from Live Oak Bank helped found nCino in 2011, however, according to allegations in the lawsuit, the companies don’t want to share their employees.
The suit, which seeks class-action status, was filed in U.S. District Court and claims that the companies, along with a non-party, Apiture, entered into a no-hire agreement. Essentially, the claim is that the companies have all agreed not to hire employees from different companies, thus, limiting the risk of losing tech employees, while keeping competition for jobs low.
“The express purpose of the No-Hire Agreement was to prevent the companies from having to pay competitive wages to attract and retain talent,” the lawsuit reads.
ONE interesting thing here is that Michael Praats -- who worked for YEARS for Port City Daily -- is now reporting for WECT TV6!!!
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>>> So let us LOOK at all of the Devout Christian Drug-Trafficking White Supremacists in Wilmington, North Carolina
But they DO NOT AGE WELL!!!
>>> My PREVIOUS LETTER sent to Bill and the Cameron Family:
https://theweathercontinues.blogspot.com/2020/10/open-letter-to-william-cameron-and.html
I'll leave it at that for now -- and ENJOY the ENTERTAINMENT as this all unfolds in COURT!!!
And some GOOD NEWS to END ON!!!:
Gavin Newsom just tried to shove Dianne Feinstein out the door
https://www.cnn.com/2021/03/16/politics/gavin-newsom-dianne-feinstein-senate/index.html
OOOOPS!!!!
https://www.huffpost.com/entry/amy-coney-barrett-feinstein-graham_n_5f889602c5b6e9e76fbb6892
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