backtop


Print

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.





"A politician stumbles over himself... Then they pick it out. They edit it. He runs the clip, and then he makes a funny face, and the whole audience has a Pavlovian response." -- Joe Scarborough on John Stewart over Jim Cramer
Related Articles
EU Fine Dings Intel's Q2 Earnings
July 15, 2009, 6:22 AM



Latest Headlines
Essential Phone vs iPhone 7 Plus
August 21, 2017, 6:15 AM
ASUS’ latest curved gaming monitor
August 18, 2017, 6:10 AM
MSI GL62M 7REX Gaming Laptop
August 14, 2017, 6:00 AM
SoundCloud survives the budge scare
August 12, 2017, 6:38 AM
Dell XPS 27
August 9, 2017, 6:00 AM
ASRock B250 Pro4
August 7, 2017, 6:00 AM




Latest Blog Posts
Xiaomi Mi 6 Smartphone.
Nenfort Golit - Aug 8, 2017, 6:00 AM






botimage
Copyright 2017 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki