FTC and 17 states sue Amazon on antitrust charges
Publishing timestamp: 2023-09-26 13:41:08
Summary
The Federal Trade Commission (FTC) has filed an antitrust lawsuit against Amazon, accusing the company of using its monopoly power to raise prices, degrade quality, and stifle competition. The lawsuit alleges that Amazon engages in anti-competitive practices, such as punishing sellers and requiring them to use costly fulfillment services. The FTC and states are seeking to hold Amazon liable and prevent it from continuing these practices. Amazon denies the allegations and argues that its practices have led to greater competition and innovation.
Sentiment: MIXED
Keywords: united states, breaking news: politics, business news, amazon.com inc, breaking news: business, products and services, social media, ftc solar inc, mobile, technology, politics, corporate crime, retail industry, breaking news: technology, irobot corp,
Source: https://www.cnbc.com/2023/09/26/ftc-and-17-states-sue-amazon-on-antitrust-charges.html