European Commission fines Intel €1.06 billion for antitrust violations Matt Glenn at 4:30 PM ET
[JURIST] The European Commission (EC) [official website] fined [EC press release] computer chip maker Intel Corp. [corporate website] 1.06 billion Wednesday for violating European Union antitrust laws and ordered Intel to cease engaging in the anti-competitive behaviors. The EC announced that Intel violated the laws [Article 82 backgrounder] by giving computer companies rebates to purchase nearly all of their supplies from Intel and paying companies not to use products made by Advanced Micro Devices (AMD) [corporate website], Intel's main competitor. The EC has indicated that the fine must be paid within three months and that the 542-page decision will be published soon [EC press release]. AMD president and CEO Dirk Meyer hailed the ruling [AMD press release] as "an important step toward establishing a truly competitive market." Intel announced [Intel press release] that it would appeal the decision but would comply with it in the meantime.
Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible, ad-free format.