US FTC hits Amazon with antitrust lawsuit on e-commerce business

The US Federal Trade Commission (FTC) has filed a lawsuit against Amazon, alleging that the company has been engaging in a number of “interlocking anticompetitive and unfair strategies to illegally maintain its monopoly power.”

In the complaint, the FTC and 17 state attorneys general claim that Amazon’s actions have prevented its rivals and sellers from lowering prices, leading to a decrease in quality for shoppers, sellers being overcharged, innovation being stifled, and Amazon’s market competitors prevented from fairly competing against the company.

Amazon hasn’t violated the law because of its size but rather because its exclusionary conduct prevents current competitors from growing and new ones from emerging, the FTC alleges. It claims Amazon’s anticompetitive conduct has occurred in both its online shopping market that serves buyers, and its online marketplace that serves sellers.

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Source:: Computerworld