Fidelity National Financial has agreed on a settlement amount of $3.5 million in response New York Attorney General Letitia James’ allegations that the company, the largest title insurer in the US, was involved in an illegal conspiracy with its competitors, wherein they refrained from soliciting each other’s employees.
Fidelity has agreed to cease all “no-poach” agreements within 30 days and collaborate with James’ investigation into the title insurance sector, according to a recently revealed agreement.
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James stated that no-poach agreements, regardless of whether they are written or oral, have the potential to limit competition for workers, which may lead to decreased wages and benefits while also hindering career advancement.
She stated that in a well-functioning labor market, such agreements are not needed and that Fidelity’s utilization of them was a violation of federal and state antitrust laws.
Fidelity did not admit or deny wrongdoing. It promised to notify James’ office if it learned of illegal no-poach agreements over the next 10 years.
