Amazon rigged billions in ad pricing, lawsuit from states and US watchdog alleges
Amazon responded to the lawsuit, arguing the US Federal Trade Commission "misunderstands" their ad market.
The US Federal Trade Commission (FTC) and a coalition of 22 states have filed a lawsuit against Amazon, alleging the company secretly overcharged more than a million ad customers by manipulating online auction pricing, potentially earning Amazon $20 billion since 2019. According to the lawsuit, Amazon overrides auction results with higher prices to boost profits.
Amazon denies the allegations, stating it "strongly disagrees" with the premise and calls the lawsuit "misguided." The FTC maintains the case is about higher consumer prices, not consumer prices, and warns that Amazon's practices have hurt consumers who are suffering from the extra costs. The FTC seeks public support for the lawsuit. Amazon's stock dropped 2.5% after the lawsuit was announced.
Written by urgent.news from BBC Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- U.S. regulator, 22 states accuse Amazon of 'manipulating' ad auctions in lawsuit thehindu.com
- FTC lawsuit alleges Amazon has been ‘secretly and systematically’ overcharging for ads theverge.com
- Amazon rigged billions in ad pricing, lawsuit from states and US watchdog alleges myjoyonline.com
- WTF is the Amazon ad surcharge lawsuit? digiday.com
- FTC accuses Amazon of running a ‘secret ad surcharge scheme’ in new lawsuit techcrunch.com
- Amazon rigged billions in ad pricing, lawsuit from states and US watchdog alleges bbc.co.uk
- FTC to file lawsuit alleging Amazon deceived advertisers, WSJ reports investing.com
- FTC to file lawsuit alleging Amazon deceived advertisers, WSJ reports channelnewsasia.com
