'Attorney General Formella Sues Amazon for Illegally Maintaining Monopoly Power' - DoJ
Portfolio Pulse from Benzinga Newsdesk
New Hampshire Attorney General John M. Formella, along with the Federal Trade Commission (FTC) and 16 other state attorneys general, has sued Amazon.com, Inc. alleging that the company uses anticompetitive and unfair strategies to illegally maintain its monopoly power. The complaint accuses Amazon of preventing competitors from growing and new ones from emerging, stifling competition on price, product selection, and quality, and overcharging sellers. The lawsuit seeks a permanent injunction to prohibit Amazon from engaging in its alleged unlawful conduct and to restore competition.
September 26, 2023 | 6:36 pm
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Amazon is facing a lawsuit from multiple state attorneys general and the FTC, accusing the company of maintaining its monopoly power through anticompetitive and unfair strategies. This could potentially lead to regulatory actions that may impact Amazon's business model and profitability.
The lawsuit alleges that Amazon has been engaging in anticompetitive practices to maintain its monopoly power. If the lawsuit is successful, Amazon could face regulatory actions that may require changes to its business practices, potentially impacting its profitability. The company could also face reputational damage, which could affect its stock price in the short term.
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