The FTC Sued Amazon. Should You Sell Amazon Stock Now?
We knew it was coming. We just didn't know when.
After months of anticipation, the Federal Trade Commission (FTC) and 17 states filed a lawsuit against Amazon (NASDAQ: AMZN). The suit accuses the tech giant of monopolistic practices across its consumer-facing marketplace and within the merchant services it provides to marketplace sellers. The FTC did not mince words in the filing, alleging that Amazon "is a monopolist that uses a set of interlocking anticompetitive and unfair strategies to illegally maintain its monopoly power."
FTC Chair Lina Khan added: "Amazon has used a set of punitive and coercive tactics to unlawfully maintain its monopolies," enriching itself, raising prices, and degrading service for the tens of millions of American families that shop on Amazon and for the businesses that rely on it.
Source Fool.com
