Intel Triumphs as EU Court Overturns €1.06 Billion Antitrust Fine, Ending Decade-Long Legal Battle
October 25, 2024The case has highlighted ongoing tensions in the semiconductor industry, particularly regarding competitive practices and market share dynamics between Intel and AMD.
The Court of Justice dismissed the Commission's appeal, affirming that the General Court had appropriately reviewed Intel's objections and identified flaws in the Commission's conclusions.
This ruling confirms the General Court's 2022 decision to annul the fine, marking a significant conclusion to a lengthy legal saga that has lasted over a decade.
Intel recently celebrated a significant legal victory as the EU's Court of Justice upheld a previous ruling that annulled a €1.06 billion antitrust fine imposed by the European Commission over a decade ago.
This fine, originally levied in 2009, was based on allegations that Intel abused its market dominance through anti-competitive practices, including offering conditional rebates to block competition from rivals like AMD.
The European Commission had previously appealed the General Court's decision in 2022, arguing that it contained procedural irregularities and legal errors.
However, the Court emphasized that the Commission failed to provide sufficient evidence to support its claims of Intel's anti-competitive behavior.
Despite this victory, Intel is still contesting a separate fine of €376.4 million related to unlawful sales restrictions that were deemed abusive in the 2022 ruling.
Following the court's decision, Intel's shares experienced a slight increase, reflecting investor optimism about the company's legal standing.
Intel expressed satisfaction with the ruling, indicating relief at moving past this legal issue, while the European Commission stated it would carefully assess the implications of the judgment.
Ultimately, this ruling not only concludes the specific case regarding the €1.06 billion fine but also raises questions about the future of regulatory scrutiny in the tech industry.
While Intel has successfully navigated this appeal, the company continues to face challenges in chip production, underscoring the complexities of its current market position.
Summary based on 15 sources
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Sources
The Guardian • Oct 24, 2024
Intel wins lengthy EU legal battle over £880m competition fineBloomberg • Oct 24, 2024
Intel (INTC) Wins EU Court Fight in €1.06 Billion Antitrust BattleTechCrunch • Oct 24, 2024
Intel's $1.45 billion EU antitrust fine is officially history | TechCrunchThe Independent • Oct 24, 2024
Intel scores fresh win against EU after top court backs annulment of billion-euro antitrust fine