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Intel Formally Denies Charges by FTC

July 14, 1998|Reuters

Semiconductor giant Intel Corp. denied many of the charges leveled against it by the Federal Trade Commission, saying it has not monopolized any market, used unfair methods of competition or violated any antitrust laws. The Santa Clara-based company also said the current lawsuit filed against it in Washington is not an appropriate matter for action by the FTC. Intel's response was its formal answer to a complaint filed in early June by the FTC, which alleges that Intel used its dominant market position and withheld key information from three companies in an attempt to stifle competition and impede innovation. Intel said two of those disputes have been settled on mutually agreeable terms among the parties. Its third dispute, with workstation maker Intergraph Corp., is in litigation in Alabama, where Intergraph is based. Intel's shares rose $2.63 to close at $82.38 on Nasdaq.

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