Amazon sued by FTC and 17 states over allegations it inflates online prices and overcharges sellers

The lawsuit, filed in U.S. District Court for the Western District of Washington, is the result of a years-long investigation into Amazon’s businesses and one of the most significant legal challenges brought against the company in its nearly 30-year history.

According to a news release sent by the agency, the FTC and states that joined the lawsuit are asking the court to issue a permanent injunction court that they say would prohibit Amazon from engaging in its unlawful conduct and loosen its “monopolistic control to restore competition.” “The complaint sets forth detailed allegations noting how Amazon is now exploiting its monopoly power to enrich itself while raising prices and degrading service for the tens of millions of American families who shop on its platform and the hundreds of thousands of businesses that rely on Amazon to reach them," FTC chairman Lina Khan said in a statement.

Many had wondered whether the agency would seek to a forced break-up of the retail giant, which is also dominant in cloud computing and has a growing presence in other sectors like groceries and health care. In a briefing with reporters, Khan dodged questions of whether that will happen.Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

FTC Sues Amazon, Alleging Illegal Online-Marketplace MonopolyHigh-stakes case puts e-commerce giant in sights of agency chair Lina Khan’s aggressive antitrust stance
Source: WSJ - 🏆 98. / 63 Read more »

Amazon sued by FTC and 17 states over allegations it inflates online prices and overcharges sellersThe Federal Trade Commission and 17 state attorney generals filed an antitrust lawsuit against Amazon on Tuesday, alleging the e-commerce behemoth uses its position in the marketplace to inflate prices on other platforms, overcharge sellers and stifle competition.
Source: ksatnews - 🏆 442. / 53 Read more »

Alaska congressional delegation takes concerns about Albertsons-Kroger merger to FTCU.S. Sens. Murkowski and Sullivan expressed 'deep concerns.' Congresswoman Peltola asked the FTC to block the merger.
Source: AKpublicnews - 🏆 387. / 55 Read more »

Alaska lawmakers push back on Kroger-Albertsons merger in letter to FTC chairLast week, Sens. Lisa Murkowski and Dan Sullivan together penned a letter to Federal Trade Commission Chair Lina Khan outlining their concerns about the merger. The lawmakers argue that the merger goes against the best interest of Alaskans and the state.
Source: AKNewsNow - 🏆 460. / 53 Read more »

Can Amazon's $4Billion AI Bet Be the Next Growth Catalyst for the Tech Behemoth?Stocks Analysis by Investing.com (Günay Caymaz) covering: Amazon.com Inc, Amazon.Com, Amazon.com Inc BDR, BNP PARIBAS ARBITRAGE ISSUANCE BV Put 1784.62 USD AMAZON 31Dec99. Read Investing.com (Günay Caymaz)'s latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »

Amazon.com faces an array of US consumer, state antitrust lawsuitsA lawsuit by the U.S. Federal Trade Commission against Amazon.com , expected to be filed as soon as this week, adds to a slew of legal challenges exposing the retail giant to billions of dollars in potential damages.
Source: Reuters - 🏆 2. / 97 Read more »