Amazon Counters FTC Allegations, Insists Prime Sign-Up and Cancellation Processes are Transparent and Legal
Portfolio Pulse from Anusuya Lahiri
Amazon has denied allegations by the Federal Trade Commission (FTC) that it deceived subscribers to its Amazon Prime service. The FTC accused Amazon of using 'dark patterns' to trick consumers into enrolling in automatically renewing Prime subscriptions. Amazon's attorneys have requested a U.S. judge to dismiss the lawsuit, insisting that the Prime sign-up and cancellation processes are transparent. Amazon shares traded lower by 0.19% premarket on the last check Friday.
October 20, 2023 | 11:47 am
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NEGATIVE IMPACT
Amazon is facing legal and regulatory challenges from the FTC, which could potentially impact its reputation and customer trust. The news of the lawsuit has led to a slight decrease in Amazon's premarket share price.
The FTC's allegations against Amazon could potentially harm the company's reputation and customer trust, which could in turn impact its revenues and share price. The news of the lawsuit has already led to a slight decrease in Amazon's premarket share price, indicating that investors are concerned about the potential impact of the lawsuit.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100