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iniewski
Isn't ARM real competitor for Intel's products? Kris
Sheetal.Pandey
$6.5 million payment is intended only to cover some of the costs incurred by the ...
Intel pays $6.5 million to settle N.Y. antitrust suit
Dylan McGrath
2/9/2012 6:07 PM EST
SAN FRANCISCO—Intel Corp. agreed to pay $6.5 million in exchange for New York's attorney general to drop an antitrust lawsuit brought against the world's biggest chip maker a little more than two years ago, the company said Thursday (Feb. 9).
Intel (Santa Clara, Calif.) said that in the agreement to terminate the lawsuit the company did not admit either any violation of law or that the allegations in the complaint are true. The deal calls for no changes to the way Intel does business, the company said.
Intel said the $6.5 million payment is intended only to cover some of the costs incurred by the New York attorney general in the litigation.
The deal comes two months after a December 2011 court ruling that greatly reduced the scope of the lawsuit. The case was set to go to trial next week.
"Following recent court rulings in Intel’s favor that significantly and appropriately narrowed the scope of this case, we were able to reach an agreement with New York to bring to an end what remained of the case," said Doug Melamed, senior vice president and general counsel at Intel, in a statement. "We have always said that Intel’s business practices are lawful, pro-competitive and beneficial to consumers, and we are pleased this matter has been resolved."
Former New York Attorney General Andrew Cuomo filed the federal antitrust suit against Intel in November 2009. The suit alleged that Intel violated state and federal anti-monopoly laws and engaged in a worldwide, systematic campaign to maintain its "monopoly" power and prices for microprocessors. Cuomo is now the governor of New York.
Intel (Santa Clara, Calif.) said that in the agreement to terminate the lawsuit the company did not admit either any violation of law or that the allegations in the complaint are true. The deal calls for no changes to the way Intel does business, the company said.
Intel said the $6.5 million payment is intended only to cover some of the costs incurred by the New York attorney general in the litigation.
The deal comes two months after a December 2011 court ruling that greatly reduced the scope of the lawsuit. The case was set to go to trial next week.
"Following recent court rulings in Intel’s favor that significantly and appropriately narrowed the scope of this case, we were able to reach an agreement with New York to bring to an end what remained of the case," said Doug Melamed, senior vice president and general counsel at Intel, in a statement. "We have always said that Intel’s business practices are lawful, pro-competitive and beneficial to consumers, and we are pleased this matter has been resolved."
Former New York Attorney General Andrew Cuomo filed the federal antitrust suit against Intel in November 2009. The suit alleged that Intel violated state and federal anti-monopoly laws and engaged in a worldwide, systematic campaign to maintain its "monopoly" power and prices for microprocessors. Cuomo is now the governor of New York.
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Sheetal.Pandey
2/10/2012 12:18 AM EST
$6.5 million payment is intended only to cover some of the costs incurred by the New York attorney general in the litigation. Wow!
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iniewski
2/12/2012 11:33 AM EST
Isn't ARM real competitor for Intel's products? Kris
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