Intel Slapped With N.Y. Antitrust Suit

NEW YORK, (TheStreet) -- Stepping in where the European Union left off in May and where federal regulators have begun to work, New York top cop Andrew Cuomo has filed antitrust charges against Intel (INTC Quote).

The New York attorney general's lawsuit accuses Intel of coercing PC makers through kickbacks to use its chips and not components from rivals, primarily AMD (AMD Quote).

In May, the EU handed Intel a $1.45 billion fine over its use of rebates to edge out competitors. And in June, the Federal Trade Commission started an investigation into Intel's business practices.

The charges of unfair competition against the dominant PC chipmaker, which controls more than 80% of the processor market, go back nearly five years. AMD has been very public in its accusations that it has been unfairly squashed by Intel's heavy-handed discounting program.

Intel has said in the past that its practices are legitimate and that AMD's troubles are its own and not caused by competition.

Intel shares were up 2% and AMD was up 3% Wednesday