Amazon Faces Antitrust Charges From FTC, U.S. States

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Amazon is facing an antitrust lawsuit from the Federal Trade Commission and 17 states. The lawsuit says that the company has monopoly power and has engaged in inflating prices and undermining its competition in a variety of ways. The FTC also alleges that Amazon's process for sellers to maintain the prime badge is costly while pointing out that those companies felt they like they had no other option than to sell through the platform. Amazon's general counsel and senior vice president of Global Public Policy calls the ftc's complaint wrong on the facts and the law. Of course, we will continue to follow this story as it develops.