Intel settles antitrust lawsuit with New York attorney general, pays hardly anything
Intel's three-year tussle with the state of New York finally came to an end yesterday, with a settlement of relatively harmless proportion. Under the arrangement, Intel will have to shell out a mere $6.5 million to resolve a 2009 antitrust lawsuit filed by then-attorney general Andrew Cuomo. Cuomo, who has since ascended to the seat of governor, had accused the chipmaker of intimidating PC manufacturers and handing out billion-dollar kickbacks, as part of what he called a "systematic worldwide campaign" to assert its market dominance. The case has since been helmed by Cuomo's successor, current attorney general Eric Schneiderman, but its sails lost a lot of wind when U.S. District Judge Leonard Stark barred the state from seeking triple damages, limiting its claims to a three-year period, rather than the four-to-six that the state had been pursuing. As a result, Intel suffered only the slightest of financial blows.
According to Reuters, the $6.5 million sum represents just five hours worth of profit for the company, which reported a net income of nearly $13 billion last year. Intel was pleased with the news, pointing out that the agreement doesn't require it to admit any wrongdoing. Schneiderman, on the other hand, seemed notably less enthusiastic, with office spokeswoman Jennifer Givner telling reporters that the state's lawyers still think they have a case against Intel, but "in light of the court's decision believe that no purpose is served by pursuing the matter further."
