Big Law

U.S. Files Landmark Monopoly Lawsuit Against Amazon After a 4-Year Investigation

The U.S. Federal Trade Commission filed a long-awaited antitrust lawsuit against Amazon.com on Tuesday and asked the court to consider forcing the online retailer to sell assets as the government accuses Big Tech of monopolizing the most lucrative parts of the internet.

The FTC accused Amazon, a company started in a garage in 1994 and today worth $1.3 trillion, of fighting efforts by sellers on its online marketplace to offer products more cheaply on other platforms. Amazon forces sellers to use its warehouses and delivery services, inflating costs for consumers and sellers, the FTC said.

Amazon is a monopoly and misuses its powers, according to the FTC, which quotes a seller as saying: “We have nowhere else to go and Amazon knows it.”

Read the source article at Yahoo Finance

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