General Court, a constituent court of the Court of Justice of the European Union, overturned a €1.06 billion ($1.2 billion) antitrust fine levied against U.S. chipmaker Intel Corp (NASDAQ: INTC) in 2009.
The commission alleged that Intel abused its dominant position on the worldwide market for “x86 2” data center processors between 2002 - 2007 by implementing a strategy intended to exclude competitors from the market.
The Court stated that the commission didn’t do a proper economic analysis of the rebates at issue.
In 2014, the General Court upheld the commission’s 2009 verdict.
However, the EU Court of Justice told the commission in 2017 to re-examine Intel’s appeal, CNBC reports
Price Action: INTC shares traded higher by 2.51% at $52.28 on the last check Wednesday.
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