'Amazon Accused Of Audiobook Monopoly In Author Class Action' - Reuters News
Portfolio Pulse from Benzinga Newsdesk
Amazon is facing a proposed class action lawsuit accusing it of monopolizing the audiobook market, leading to higher distribution fees for authors. The lawsuit claims Amazon's exclusivity agreements impair competition and affect billions in sales. The case seeks over $5 million in damages and class action status for thousands of authors.
June 14, 2024 | 3:36 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Amazon is accused of monopolizing the audiobook market, leading to higher distribution fees for authors. The lawsuit seeks over $5 million in damages and class action status for thousands of authors.
The lawsuit could lead to financial penalties and increased scrutiny from regulators, potentially impacting Amazon's stock negatively in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100