Amazon Accused Of Duping Consumers Into Prime Subscriptions By FTC: Reuters
Portfolio Pulse from Benzinga Newsbot
The U.S. Federal Trade Commission (FTC) has accused Amazon of enrolling millions of consumers into its paid subscription service, Amazon Prime, without their consent and making it difficult for them to cancel. Amazon has refuted these claims, calling them false on the facts and the law.
June 22, 2023 | 4:54 am
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Amazon faces a lawsuit from the FTC accusing the company of enrolling consumers into Prime subscriptions without consent and making cancellations difficult.
The FTC's lawsuit against Amazon could potentially harm the company's reputation and lead to regulatory actions, which may negatively impact Amazon's stock price in the short term. The allegations directly target Amazon Prime, a significant revenue generator for the company, and any negative outcome could affect Amazon's financial performance.
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