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The Federal Trade Commission (FTC) and 17 state attorneys general filed a lawsuit against Amazon Tuesday accusing the company of illegally maintaining its monopoly power, which drives up prices and hinders rivals.
In the federal suit, filed in Washington, the FTC and attorneys general claim the company used “a set of interlocking anticompetitive and unfair strategies to illegally maintain” its position in the marketplace and inflate prices, degrade quality for shoppers, overcharge sellers and stifle innovation and competition from rivals.
Lina Khan, chair of the Federal Trade Commission (FTC), speaks during a House Appropriation Subcommittee hearing in Washington, D.C., US, on Wednesday, May 18, 2022. The hearing is titled “Fiscal Year 2023 Budget Request for the Federal Trade Commiss (Al Drago/Bloomberg via Getty Images / Getty Images)
“Our complaint lays out how Amazon has used a set of punitive and coercive tactics to unlawfully maintain its monopolies,” FTC Chair Lina Khan said in a statement. “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.
This is a developing story. Check back for updates.
