US antitrust case against Amazon to move forward

investing.com 07/10/2024 - 17:10 PM

Amazon Accused of Stifling Competition

(Reuters) – The U.S. Federal Trade Commission’s (FTC) case against Amazon for allegedly stifling competition in online retail will proceed, although some claims by states were dismissed.

U.S. District Judge John Chun in Seattle unsealed a ruling from September 30, which dismissed certain claims from the attorneys general of New Jersey, Pennsylvania, Maryland, and Oklahoma.

Last year, the FTC claimed Amazon.com (NASDAQ:AMZN), which features 1 billion items, used an algorithm that raised prices for U.S. households by over $1 billion. Amazon stated it no longer uses the program since 2019.

The FTC alleges the online retailer engaged in anti-competitive practices to maintain its dominance in online marketplaces.

Amazon sought to dismiss the case in December, asserting that the FTC did not provide evidence of consumer harm.

However, the judge indicated he cannot consider Amazon’s claims of benefiting competition at this preliminary stage of the case.




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