Microsoft suffers stunning EU antitrust defeat
In a European Union court decision that makes one wonder why the U.S. couldn't succeed in its antitrust litigation against Microsoft (at least to this extent), Microsoft is reeling.
Microsoft suffered a stunning defeat on Monday when a European Union court backed a European Commission ruling that the U.S. software giant illegally abused its market power to crush competitors.
"Microsoft must now comply fully with its legal obligations to desist from engaging in anti-competitive conduct. The Commission will do its utmost to ensure that Microsoft complies swiftly", (EU Competition Commission Neelie) Kroes said in a statement.
Wow, that's big. The fine levied against Microsoft, which was upheld in the ruling, is $690 million. In the U.S. Microsoft stock dropped 1.08% to 28.73.
Microsoft suffered a stunning defeat on Monday when a European Union court backed a European Commission ruling that the U.S. software giant illegally abused its market power to crush competitors.
"Microsoft must now comply fully with its legal obligations to desist from engaging in anti-competitive conduct. The Commission will do its utmost to ensure that Microsoft complies swiftly", (EU Competition Commission Neelie) Kroes said in a statement.
Wow, that's big. The fine levied against Microsoft, which was upheld in the ruling, is $690 million. In the U.S. Microsoft stock dropped 1.08% to 28.73.
