The complaint is the result of a years-long investigation into Amazon’s businesses and one of the most significant legal challenges brought against the company.
FILE - An Amazon company logo marks the facade of a building in Schoenefeld near Berlin, March 18, 2022.1:39 PM EDT September 26, 2023
According to a news release sent by the agency, the Federal Trade Commission and states that joined the lawsuit are asking the court to issue a permanent injunction court that they say would prohibit Amazon from engaging in its unlawful conduct and loosen its “monopolistic control to restore competition.”
“The complaint sets forth detailed allegations noting how Amazon is now exploiting its monopoly power to enrich itself while raising prices and degrading service for the tens of millions of American families who shop on its platform and the hundreds of thousands of businesses that rely on Amazon to reach them," FTC Chairman Lina Khan said in a prepared statement.
Last quarter, Amazon reported $32.3 billion in revenue from third-party services. According to the anti-monopoly organization Institute for Local Self-Reliance, the fees cost U.S. sellers 45% of their revenue in the first half of this year - up from 35% in 2020 and 19% in 2014.
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