Jeff Bezos And Amazon CEO Andy Jassy Accused Of Deleting Chats Amid Antitrust Probe: 'The FTC's Contentions Are Baseless'
Portfolio Pulse from Ananya Gairola
The FTC has accused Amazon.com Inc. (NASDAQ:AMZN) executives, including Jeff Bezos and CEO Andy Jassy, of deleting text messages that could serve as evidence in an antitrust investigation. The executives allegedly used Signal for communication between April 2019 and May 2022, with messages set to disappear. Amazon refuted the claims, stating it had disclosed its use of Signal and collected conversations from employees' phones for the FTC.
April 26, 2024 | 5:43 am
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Amazon.com Inc. is under scrutiny by the FTC for alleged deletion of text messages by top executives, which could impact its ongoing antitrust investigation.
The allegations by the FTC against Amazon and its top executives for deleting potential evidence could negatively impact investor sentiment and the company's stock price in the short term. The news puts Amazon in a negative light, potentially raising concerns about regulatory risks and legal challenges that could affect its operations and financial performance. However, Amazon's defense and claim of cooperation with the FTC might mitigate some of the negative impact.
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