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Intel says it plans to pay the fine and get the money back if it wins on appeal

The largest chipmaker on the planet -- Intel -- has appealed the EU ruling that fined it $1.45 billion for antitrust allegations. The massive fine is the largest ever imposed on a company by the EU and stemmed from what the EU calls abuse of its market dominant position against AMD.

The huge charge forced Intel to report a loss for the second quarter of 2009 after posting numbers that were higher than what Wall Street expected. Intel spokesman Chuck Malloy said, "Our position is that the decision was wrong and we said that from the day it was announced. It was wrong on many levels."

Mulloy also said that Intel plans to pay the fine and if it wins on appeal, it will get the money back from the EU. A spokesman for the European Commission said that the body "is confident that its antitrust decision against Intel is legally watertight."

Reuters quotes Intel spokesman Robert Manetta saying, "We believe the European Commission misinterpreted some evidence and ignored other pieces of evidence."

The fine was levied against Intel after an eight-year investigation concluded. Some analysts believe that the EU ruling could pressure American legal agencies to take action against Intel. Reuters reports that the FTC and the New York attorney general's office are both investigating Intel.

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The fine should be $500 Billion per year
By Beenthere on 7/22/2009 1:54:06 PM , Rating: -1
Both Intel and Microsucks should be fined $500 Billion per year for chronic violation of anti-trust laws and all sales of their products should be suspended worldwide until they pay the fines and meet all anti-trust regulations. Justice delayed is justice denied. Both companies have been convicted of perpetual anti-trust law violations on three continents.

By cornelius785 on 7/22/2009 1:59:28 PM , Rating: 2
lol, funny post

RE: The fine should be $500 Billion per year
By porkpie on 7/22/2009 1:59:43 PM , Rating: 5
Better yet, we should just ban all companies entirely. They're all evil, right?

Power to the people! Workers Unite! Death to our corporate overlords!

RE: The fine should be $500 Billion per year
By TSS on 7/22/2009 3:55:15 PM , Rating: 5
too bad that failed pretty hard for the sovjets.

In Soviet Russia, epic fails you.

By HaZaRd2K6 on 7/22/2009 9:48:06 PM , Rating: 2
And yet, epic is what you just won.

I applaud you, sir.

*tip of the hat*

RE: The fine should be $500 Billion per year
By rcc on 7/23/2009 11:51:34 AM , Rating: 1
Speaking of justice. You should have to pay a fine to everyone here for making us see/read your posts.

Fair is fair.

By Helbore on 7/23/2009 1:30:17 PM , Rating: 2
That wouldn't be justice for him to pay a fine.

In that circumstance it would be called compensation.

By troysavary on 8/2/2009 5:50:15 AM , Rating: 1
And where exactly do you propose they get this $500 billion if they are not allowed to sell there products?

"Vista runs on Atom ... It's just no one uses it". -- Intel CEO Paul Otellini
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