A sign is posted in front of a Broadcom office on June 03, 2021 in San Jose, California.
Justin Sullivan | Getty Images
The Federal Trade Commission accused computer chip supplier Broadcom of illegally monopolizing the market for semiconductor components, the agency announced Friday.
The Commission voted unanimously to file charges against the company, with newly-appointed chair Lina Khan not participating in the vote. At the same time, the Commission voted to accept a proposed consent order for public comment.
The proposed agreement would prohibit Broadcom from entering some exclusivity or loyalty contracts with certain customers and require the company not to condition access to chips on exclusivity or loyalty deals. It would also prohibit Broadcom from retaliating against customers that deal with its competitors.
Broadcom shares were down about 2% on the news.
This story is developing. Check back for updates.
