June 21, 2010 / 11:29 PM / 9 years ago

Intel and FTC talk settlement of market abuse suit

LOS ANGELES (Reuters) - Intel and the Federal Trade Commission filed motions on Monday to suspend trial proceedings while both negotiate settlement of a lawsuit, in which the agency accused the company of abusing its market dominance.

The government accused Intel in December of illegally stifling competition, in a lawsuit the agency said sought to stop the marketing practices that have helped maintain Intel’s status as the world’s top chip maker for years.

The commission said Intel had been trying to shut out competitors in maneuvers dating back to 1999.

Intel said on Monday the motions would give both sides until July 22 to discuss a proposed settlement, but details of any proposed settlement were confidential.

The company declined further comment in its statement. Spokesman Tom Beermann said it was possible, should both sides fail to reach an agreement, that the commission will proceed with its case.

Rivals Advanced Micro Devices Inc and Nvidia Corp have also accused the chip giant of anti-competitive behavior. Intel agreed in November to pay AMD $1.25 billion to settle their litigation.

Shares in Intel held steady in after-hours trade from its regular-session close of $21.19.

Reporting by Edwin Chan; Editing by Sofina Mirza-Reid

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