AMAZON SUED BY FTC AND 17 STATES OVER ALLEGATIONS IT INFLATES ONLINE PRICES AND OVERCHARGES SELLERS
Techlife News|Techlife News #622
U.S. regulators and 17 states are suing Amazon over allegations the e-commerce behemoth abuses its position in the marketplace to inflate prices on and off its platform, overcharge sellers and stifle competition.
AMAZON SUED BY FTC AND 17 STATES OVER ALLEGATIONS IT INFLATES ONLINE PRICES AND OVERCHARGES SELLERS

The lawsuit, filed this week in federal court in Amazon’s home state of Washington, is the result of a yearslong investigation into the company’s businesses and one of the most significant legal challenges brought against it in its nearly 30-year history.

The Federal Trade Commission and states that joined the lawsuit allege Amazon is violating federal and state antitrust laws. They are asking the court to issue a permanent injunction that they say would prohibit Amazon from engaging in its unlawful conduct and loosen its “monopolistic control to restore competition.”

The complaint accuses the company of engaging in anti-competitive practices through measures that deter sellers from offering lower prices for products on non-Amazon sites, an argument mirroring allegations made in a separate lawsuit filed last year by the state of California.

The lawsuit says Amazon buries listings offered at lower prices on other sites. At the same time, it also charges sellers high fees, forcing merchants to raise their prices on the platform, as well as on other e-commerce sites in order to keep their products competitive on Amazon.

“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 prepared statement.

Seattle-based Amazon.com Inc. said the FTC is “wrong on the facts and the law” and had departed from its role of protecting consumers and competition.

هذه القصة مأخوذة من طبعة Techlife News #622 من Techlife News.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة Techlife News #622 من Techlife News.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من TECHLIFE NEWS مشاهدة الكل
NEW JERSEY OFFSHORE WIND FARM CLEARS BIG FEDERAL HURDLE AMID ENVIRONMENTAL CONCERNS
Techlife News

NEW JERSEY OFFSHORE WIND FARM CLEARS BIG FEDERAL HURDLE AMID ENVIRONMENTAL CONCERNS

The federal government gave a key approval this week to an offshore wind farm in New Jersey, even as residents in the town where its power cable would come ashore worry it could go through underground toxic waste that’s still being cleaned up.

time-read
3 mins  |
October 05, 2024
AUSTRALIA'S ONLINE DATING INDUSTRY ADOPTS CODE OF CONDUCT TO KEEP USERS SAFER
Techlife News

AUSTRALIA'S ONLINE DATING INDUSTRY ADOPTS CODE OF CONDUCT TO KEEP USERS SAFER

A code of conduct will be enforced on the online dating industry to better protect Australian users after research found that three-in-four people suffer some form of sexual violence through the platforms, Australia’s government said this week.

time-read
2 mins  |
October 05, 2024
WARREN BUFFETT BUYS REST OF BERKSHIRE HATHAWAY'S UTILITIES, BUT INVESTORS MUST GUESS AT THE PRICE
Techlife News

WARREN BUFFETT BUYS REST OF BERKSHIRE HATHAWAY'S UTILITIES, BUT INVESTORS MUST GUESS AT THE PRICE

Warren Buffett’s Berkshire Hathaway is buying the rest of its utility unit from the estate of a longtime board member who died three years ago, but it’s not clear exactly how much it will pay for that 8% stake in the massive utility business.

time-read
2 mins  |
October 05, 2024
PARENTS WILL HAVE TO SET ASIDE SOME EARNINGS FOR CHILD INFLUENCERS UNDER NEW CALIFORNIA LAWS
Techlife News

PARENTS WILL HAVE TO SET ASIDE SOME EARNINGS FOR CHILD INFLUENCERS UNDER NEW CALIFORNIA LAWS

Parents in California who profit from social media posts featuring their children will be required to set aside some earnings for their minor influencers under a pair of measures signed by Gov. Gavin Newsom.

time-read
2 mins  |
October 05, 2024
ARKANSAS SUES YOUTUBE OVER CLAIMS THAT THE SITE IS FUELING A MENTAL HEALTH CRISIS
Techlife News

ARKANSAS SUES YOUTUBE OVER CLAIMS THAT THE SITE IS FUELING A MENTAL HEALTH CRISIS

Arkansas sued YouTube and parent company Alphabet this week, saying the video-sharing platform is made deliberately addictive and fueling a mental health crisis among youth in the state.

time-read
2 mins  |
October 05, 2024
SPACEX LAUNCHES RESCUE MISSION FOR 2 NASA ASTRONAUTS WHO ARE STUCK IN SPACE UNTIL NEXT YEAR
Techlife News

SPACEX LAUNCHES RESCUE MISSION FOR 2 NASA ASTRONAUTS WHO ARE STUCK IN SPACE UNTIL NEXT YEAR

SpaceX launched a rescue mission for the two stuck astronauts at the International Space Station, sending up a downsized crew to bring them home but not until next year.

time-read
3 mins  |
October 05, 2024
SATELLITE SERVICE DIRECTV BUYS RIVAL DISH AS IT FIGHTS THE ONSLAUGHT OF STREAMING SERVICES
Techlife News

SATELLITE SERVICE DIRECTV BUYS RIVAL DISH AS IT FIGHTS THE ONSLAUGHT OF STREAMING SERVICES

DirecTV is buying Dish and Sling, a deal it has sought to complete for years, as the company seeks to better compete against streaming services that have become dominant.

time-read
3 mins  |
October 05, 2024
TESLA POSTS FIRST QUARTERLY INCREASE IN DELIVERIES, BUT SHARES SLUMP WITH INVESTORS HOPING FOR MORE
Techlife News

TESLA POSTS FIRST QUARTERLY INCREASE IN DELIVERIES, BUT SHARES SLUMP WITH INVESTORS HOPING FOR MORE

Low interest financing, sweet lease deals, price cuts and free charging boosted Tesla’s global deliveries in the third quarter, the first increase this year for the electric vehicle maker.

time-read
2 mins  |
October 05, 2024
TOYOTA BOOSTS ITS INVESTMENT IN AIR TAXI COMPANY JOBY AVIATION BY ANOTHER $500 MILLION
Techlife News

TOYOTA BOOSTS ITS INVESTMENT IN AIR TAXI COMPANY JOBY AVIATION BY ANOTHER $500 MILLION

Toyota is investing another $500 million in Joby Aviation as part of a partnership aimed at helping get the American air taxi company’s commercial business off the ground.

time-read
1 min  |
October 05, 2024
CALIFORNIA GOVERNOR VETOES BILL TO CREATE FIRST-IN-NATION AI SAFETY MEASURES
Techlife News

CALIFORNIA GOVERNOR VETOES BILL TO CREATE FIRST-IN-NATION AI SAFETY MEASURES

California Gov. Gavin Newsom vetoed a landmark bill aimed at establishing first-inthe-nation safety measures for large artificial intelligence models.

time-read
4 mins  |
October 05, 2024