Yes, corps can do it and get away with it every day! But if caught they might land themselves a nice fine (see above), or even worse, some time in jail. The corps have quashed the second option for just about any crime they commit, so you are stuck with the first option.
One has got to imagine though, between these practices, H1Bs, 80 hour work weeks, and other wage-lowering standards in the tech field, how many Billions these corps have saved, reinvested, and reaped as untold wealth, while only having their feet held to the fire for about 100m each in this case. They are sure to invent some fascinating practices to hold wages down further in the coming years.
Enjoy your hot soup. cause that's all they serve. on the soup line.