Thursday, July 05, 2012

Intel appeals record-setting $1.45 billion antitrust fine... from 2009

It's been more than three years since being slapped with a record-setting €1.06 billion (roughly $1.45 billion) antitrust fine by the EU, and Intel is finally getting around to putting an appeal in motion. The request for a reversal is going to the second highest court in the union, the General Court in Luxembourg, where Intel's lawyers plan to argue that the evidence used to convict the company was "profoundly inadequate." The Commission that levied the fine was also criticized the European Ombudsman for failures in record keeping and procedure during the original investigation. However, the prosecution is sticking steadfast to its argument that rebates handed out by Chipzilla were clearly a clever ploy to hide its anti-competitive practices. Should the hearing not go Intel's way, there is one last stop on its journey -- the EU's Court of Justice. A loss there would require the rather sizable fine be paid.

View the original article here

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