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US sues Amazon.com for breaking antitrust law and harming consumers
Credit: IndiaTimes- Published on September 26, 2023
The U.S. Federal Trade Commission has filed an antitrust lawsuit against Amazon, accusing the online retailer of harming consumers through higher prices. The lawsuit, which includes 17 state attorneys general, follows a four-year investigation and similar legal actions against Google and Facebook. The FTC alleges that Amazon's...
Video credit: Wibbitz Top Stories
Published on September 26, 2023 - 01:31
FTC Files Antitrust Lawsuit Against Amazon
FTC Files Antitrust Lawsuit , Against Amazon.
The U.S. Federal Trade Commission (FTC) sued Amazon.com on Sept. 26, Reuters reports. .
According to the FTC, Amazon restricted sellers on its platform from discounting, which suppressed competition, and required them to use its "fulfilment service.".
The lawsuit follows a four-year investigation after Amazon.com and other tech companies were accused of abusing their internet dominance, Reuters reports.
Lawsuits were also previously
filed against Google and Facebook.
Lawsuits were also previously
filed against Google and Facebook.
Left unchecked, Amazon will
continue its illegal course of conduct
to maintain its monopoly power, FTC, via lawsuit.
The FTC went on to ask the court "to put an end to Amazon's illegal course of conduct, pry loose Amazon's monopolistic control, deny Amazon the fruits of its unlawful practices,
and restore the lost promise of competition.".
The complaint also asked the court to contemplate "any preliminary or permanent equitable relief, including but not limited to structural relief, necessary to restore fair competition.".
Critics of Amazon applauded the lawsuit.
No corporation has ever centralized this
much power across so many crucial sectors. Left unchecked, Amazonโs power to dictate and control threatens the rule of law
and our ability to maintain open, democratically governed markets, Stacy Mitchell of the Institute for Local Self-Reliance, via statement.
Amazon issued a statement about the FTC's lawsuit.
The practices the FTC is challenging have helped to spur competition and innovation across the retail industry, and have produced greater selection, lower prices, and faster delivery speeds for Amazon customers and greater opportunity for the many
businesses that sell in Amazonโs store, David Zapolsky, Amazon's general counsel, via statement