FTC files “the big one,” a lawsuit alleging Amazon illegally maintains monopoly::FTC: Amazon “extracts enormous monopoly rents from everyone within its reach.”
FTC files “the big one,” a lawsuit alleging Amazon illegally maintains monopoly::FTC: Amazon “extracts enormous monopoly rents from everyone within its reach.”
This is the best summary I could come up with:
The Federal Trade Commission and 17 state attorneys general today sued Amazon, claiming the online retail giant illegally maintains monopoly power.
“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.
Today’s lawsuit seeks to hold Amazon to account for these monopolistic practices and restore the lost promise of free and fair competition."
Joining the FTC in the lawsuit are Connecticut, Delaware, Maine, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New Hampshire, New Mexico, Nevada, New York, Oklahoma, Oregon, Pennsylvania, Rhode Island, and Wisconsin.
The FTC claimed that “Amazon’s illegal, exclusionary conduct makes it impossible for competitors to gain a foothold,” and that the company “extracts enormous monopoly rents from everyone within its reach.”
If the FTC gets its way, the result would be fewer products to choose from, higher prices, slower deliveries for consumers, and reduced options for small businesses—the opposite of what antitrust law is designed to do," Amazon Global Public Policy & General Counsel David Zapolsky wrote.
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