Intel Settles New York Antitrust Case for $6.5 Million

Intel and the New York Attorney General have agreed to terminate the lawsuit alleging violation of U.S. and state antitrust laws that was filed by the New York Attorney General in November 2009. The agreement, which follows a December 2011 court ruling that greatly reduced the scope of the New York Attorney Generals lawsuit, expressly states that Intel does not admit either any violation of law or that the allegations in the complaint are true, and it calls for no changes to the way Intel does business. The agreement includes a payment of $6.5 million from Intel that is intended only to cover some of the costs incurred by the New York Attorney General in the litigation. Intel’s $6.5 million payment represents less than five hours of profit for the Santa Clara, California-based company, based on reported net income of $12.94 billion for 2011.