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Monday, October 15, 2012

$GOOG longs ( $VRNG by extension) what happened with $INTC EU fine?

$GOOG longs what happened with $INTC EU fine?

Google is under fire from multiple angles now legally.

"The European Commission penalised the world's No.1 chipmaker three years ago for hindering arch-rival Advanced Micro Devices, after an eight-year investigation.
The fine, which represented 4.15 percent of Intel's 2008 turnover versus a possible maximum of 10 percent, was the biggest ever levied on a company.
A panel of five judges at the General Court in Luxembourg, Europe's second highest, will hear arguments from both the EU watchdog and Intel during the four-day hearing, in which the company wants its conviction and fine thrown out or reduced.
The Commission did not have sufficient evidence of any wrongdoing by Intel and relied too much on subjective comments by the company's customers, Intel's lawyer Nicholas Green told the court.
"The quality of evidence relied on by the Commission is profoundly inadequate. The analysis is hopelessly and irretrievably defective," he said.
"The Commission's case turns on what customers' subjective understanding is," Green said.
U.S. No.2 PC maker Dell Inc., Hewlett-Packard Co, Japan's NEC, world No.2 PC maker Lenovo and German retail chain Media Saturn Holding received rebates from Intel during the period investigated by the regulator."

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