FTC Launch­es Antitrust Suit Against Ama­zon Over Ille­gal Monop­oly, Offi­cials Say

FTC Launches Antitrust Suit Against Amazon Over Illegal Monopoly, Officials Say

The Fed­er­al Trade Com­mis­sion (FTC) and 17 state attor­neys gen­er­al sued Ama­zon on Tues­day for alleged­ly using “inter­lock­ing and anti­com­pet­i­tive and unfair” strate­gies to main­tain its monop­o­lis­tic pow­er over cur­rent and future rivals.
“Amazon’s actions allow it to stop rivals and sell­ers from low­er­ing prices, degrade qual­i­ty for shop­pers, over­charge sell­ers, sti­fle inno­va­tion, and pre­vent rivals from fair­ly com­pet­ing against Ama­zon,” the agency and its state part­ners said in a news release.
The com­plaint alleges that Amazon’s “far-reach­ing schemes” impact hun­dreds of bil­lion dol­lars in retail sales year­ly for busi­ness­es by sti­fling com­pe­ti­tion on price, prod­uct selec­tion, and qual­i­ty while simul­ta­ne­ous­ly pre­vent­ing rival com­pa­nies from gain­ing shop­pers and sell­ers on a mas­sive scale. Accord­ing to the agency, Amazon’s “anti­com­pet­i­tive” con­duct occurs in two …