Amazon faces antitrust lawsuits
Signing overlord terms with third-party sellers leads to inflated product prices, Amazon faces antitrust lawsuits.
According to the “Washington Post” report on May 25, Washington, D.C. Attorney General Karl A. Racine filed an antitrust lawsuit against Amazon on Tuesday (May 25), claiming that the e-commerce giant monopolized the market and caused Consumer prices are rising.
Racine’s office accused the company of fixing prices by signing contract terms with third-party sellers peddling products on its platform. The inspector-general said that Amazon prevents sellers from offering their products on any other online platforms at lower prices or on better terms, including their own websites. This fixed price leads to "artificially high prices" for the entire e-commerce sales. ".
Racine said in a statement: "Amazon has used its dominant position in the online retail market to win at all costs. It maximizes its profits at the expense of third-party sellers and consumers, while harming competition. , Stifling innovation, and illegally tilting the competitive environment."
The lawsuit was conducted after many years of antitrust review of Amazon in Washington, and consumer rights advocates also called on the Biden administration to file federal antitrust charges against the company. President Biden recently nominated Lina Khan as a member of the Federal Trade Commission, and she is one of the company's main critics.
With little action by the federal government for many years, the latest legal statement highlights the key role of the attorney general in restricting the power of tech giants. Last year, the attorney generals of some states filed two antitrust lawsuits, challenging Google's dominance in search and advertising. Another group of 48 attorney generals filed a landmark antitrust lawsuit against Facebook in an attempt to spin off the social networking giant. (by tiktooky)