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FTC investigating Intel
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September 24, 1997: 8:37 p.m. ET
Chip maker says commission to examine its business practices
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NEW YORK (CNNfn) - Intel Corp. said late Wednesday that the Federal Trade Commission has begun an investigation of the company's business practices.
Intel spokesman Chuck Mulloy said the chipmaker was notified by the commission about 2 p.m. Pacific time.
Mulloy characterized the investigation as "a very broad, general request for information ... that affects a good many of Intel's business."
He said the company doesn't know what triggered the probe, but that Intel intended to cooperate fully with the FTC.
Intel, the world's largest chipmaker, was the subject of another investigation into its business practices. The FTC decided against taking any action in 1993 after scrutinizing the company for two years.
Mulloy said Intel has an aggressive program to make sure it complies with federal law. He predicted the agency wouldn't find any wrongdoing.
"Our next step here would be for us to really understand the scope of the request." Mulloy said. "And once we understand the scope of the request, what we will do is develop a plan to comply with the FTC subpoena."
Word of the investigation came after the market closed Wednesday. Shares of Intel ended down 3-1/2 at 95-5/8 on Nasdaq. 
-- Andrew Torgan
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