Intel settles NY antitrust case for just $6.5 million


Source: Reuters
Coverage Type: reporting
Location:
Albany, NY, United States

Intel Corp agreed to pay just $6.5 million to resolve an antitrust lawsuit in which New York's attorney general accused the world's largest chipmaker of threatening computer makers and paying billions of dollars of kickbacks to maintain its market dominance.

The settlement ends a November 2009 Delaware case brought by Andrew Cuomo, then New York's attorney general and now governor. Eric Schneiderman, the current attorney general, took over the case when he succeeded Cuomo in that position. Intel's $6.5 million payment represents less than five hours of profit for the Santa company, based on reported net income of $12.94 billion for 2011. The lawsuit lost much of its punch when U.S. District Judge Leonard Stark said the state could not seek triple damages, and was allowed to pursue claims over just three years of computer purchases, not four or six as it had sought.

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