EU Top Court Overturns $1.2B Antitrust Penalty Against Intel

·1 min read
  • 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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