{"id":22587,"date":"2023-09-27T11:21:41","date_gmt":"2023-09-27T11:21:41","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/amazon-sued-by-ftc-over-alleged-anticompetitive-conduct\/"},"modified":"2023-09-27T11:21:42","modified_gmt":"2023-09-27T11:21:42","slug":"amazon-sued-by-ftc-over-alleged-anticompetitive-conduct","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=22587","title":{"rendered":"Amazon Sued by FTC Over Alleged ‘Anticompetitive Conduct’"},"content":{"rendered":"
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The Federal Trade Commission announced on Tuesday that it is suing Amazon.<\/h4>\n


\n Dreamstime
\n <\/span>
\n <\/figcaption><\/figure>\n<\/p><\/div>\n

The Federal Trade Commission said it is suing
\n Amazon.com,<\/span>
\n alleging the company strategically prevents competition with its dominant online marketplace.<\/p>\n

The FTC said on Tuesday that
\n Amazon
\n (ticker: AMZN) \u201cviolates the law not because it is big, but because it engages in a course of exclusionary conduct that prevents current competitors from growing and new competitors from emerging.\u201d<\/p>\n

\n

The agency said that Amazon\u2019s actions allow the company to stop competitors from lowering prices, degrade quality for shoppers, overcharge sellers, and stifle innovation. The company plans to fight back in court.<\/p>\n

The FTC alleges that Amazon\u2019s \u201canticompetitive conduct\u201d includes anti-discounting measures that punish sellers and deter other online retailers from offering prices lower than Amazon. This includes Amazon allegedly putting sellers with discounted products lower in search results, it said.<\/p>\n

The lawsuit also states that Amazon has steeply increased prices for sellers and that \u201cit now reportedly takes close to half of every dollar from the typical seller that uses Amazon\u2019s fulfillment services.\u201d<\/p>\n

David Zapolsky, Amazon\u2019s general counsel and senior vice president for global public policy, said in a statement Tuesday that the practices the FTC is challenging have encouraged competition and innovation across the retail industry, and have given shoppers greater selection, faster shipping speeds, and lower prices. <\/p>\n

\u201cIf the FTC gets its way, the result would be fewer products to choose from, higher prices, slower deliveries for consumers, and reduced options for small businesses\u2014the opposite of what antitrust law is designed to do,\u201d Zapolsky said. <\/p>\n

\u201cThe lawsuit filed by the FTC today is wrong on the facts and the law, and we look forward to making that case in court,\u201d he added. <\/p>\n

D.A. Davidson analyst Tom Forte maintained his Buy rating and $150 price target on Amazon stock Tuesday. \u201cWe see this as just the beginning of what should be a lengthy process and remain confident Amazon can manage its business well despite the distraction,\u201d he wrote in a research note.<\/p>\n

Shares of Amazon were down 3.8%, at $126.31, in recent trading, and were on track for their lowest close since June 21, according to Dow Jones Market Data. The stock has risen 50% this year.<\/p>\n

Write to Angela Palumbo at angela.palumbo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Federal Trade Commission announced on Tuesday that it is suing Amazon. Dreamstime The Federal Trade Commission said it is suing Amazon.com, alleging the company strategically prevents competition with its dominant online marketplace. The FTC said on Tuesday that Amazon (ticker: AMZN) \u201cviolates the law not because it is big, but because it engages in<\/p>\n","protected":false},"author":1,"featured_media":22261,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-22587","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nAmazon Sued by FTC Over Alleged 'Anticompetitive Conduct' | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"The Federal Trade Commission announced on Tuesday that it is suing Amazon. 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