The FTC filed an antitrust lawsuit in federal court in Washington state, backed by the attorneys general of 17 states, including two Republicans.
The Federal Trade Commission, the U.S. government’s primary business regulator, sued Amazon on Tuesday, alleging it has used its market power to warp e-commerce across the internet.
The allegations, which focus on the company’s primary marketplace, Amazon.com, paint a picture of a company able to use its size and power to pressure sellers to agree to its terms and warp the prices of goods.
“There is immediate harm that is ongoing here,” FTC Chair Lina Khan said at a news conference ahead of the lawsuit announcement. “Sellers are paying 1 of every $2 to Amazon. Shoppers are paying higher prices as a result, not just on Amazon but across the internet. And the public as a whole has been deprived of the benefits of open and fair and free competition. And so that’s what this case is really about, and those are the harms that we’re looking to fix.”
The FTC made the allegations in an antitrust lawsuit in U.S. District Court for the Western District of Washington state, backed by the attorneys general of 17 states, including two Republicans. Amazon is based in Washington.
Read more: https://yoover.com/amazon-used-market-power-to-warp-prices-of-goods-across-the-internet-ftc-alleges/