nCino, Live Oak No-Poach Antitrust Lawsuit Investigation
Last Updated on March 7, 2023
Investigation Complete
Attorneys working with ClassAction.org have finished their investigation into this matter.
Check back for any potential updates and take a look at our open investigations here. The information on this page is for reference only.
At A Glance
- This Alert Affects:
- Anyone who works or has worked as a software engineer for either nCino or Live Oak Bank in the last four years.
- What’s Going On?
- Attorneys working with ClassAction.org are looking into claims that nCino and Live Oak Bank entered into an illegal agreement not to poach each other’s employees. As part of their investigation, the attorneys need to hear from current and former employees of the companies to learn more about these allegations and to determine whether a class action lawsuit can be filed.
- Could I Be Fired for Speaking Up?
- Federal law makes it illegal for companies to fire or otherwise retaliate against employees simply because they’ve exercised their legal rights.
Attorneys working with ClassAction.org are investigating whether an antitrust class action lawsuit can be filed on behalf of software engineers at nCino and Live Oak Bank.
Allegations have surfaced that the companies entered into an illegal agreement not to poach each other’s employees, which, if true, means software engineers for both nCino and Live Oak may have been underpaid for years.
What’s the Problem with No-Poach Agreements?
With a no-poach agreement, two or more companies are effectively agreeing not to compete for their employees’ labor.
As a result, workers can be deprived of:
- Fair market wages
- Opportunities for career growth and pay increases at other employers
- The ability to negotiate for better pay at their current jobs by using offers from competitors
Securities Document Reveals Allegations of No-Poach Agreement
In late February 2021, nCino filed a document with the Securities and Exchange Commission that stated the company and a number of its officers had been served with grand jury subpoenas in relation to an investigation of the company’s hiring and pay practices. The document also revealed that the company had received a letter from a law firm seeking to resolve claims against both nCino and Live Oak Bank over “an alleged unlawful agreement not to solicit or hire certain employees.”
Although nCino said it was cooperating with authorities, the news led attorneys to begin investigating whether software engineers for both nCino and Live Oak were subject to any illegal practices that may have suppressed their wages and opportunities for career advancement.
How Could an Antitrust Class Action Lawsuit Help?
If filed and successful, a class action lawsuit could help software engineers recover the difference between what they earned and what they would have earned absent any illegal no-poach agreement. Further, it could require the companies to come into compliance with the law regarding how they pay and hire their employees.
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