tl;dr
Amazon (NASDAQ:AMZN) is facing a lawsuit for allegedly steering customers towards more expensive items in its "Buy Box" option to benefit third-party sellers. This has led to a lawsuit filed in Seattle federal court, seeking damages and potentially expanding to a class-action suit. The lawsuit all...
Amazon (NASDAQ:AMZN) is facing a lawsuit for allegedly steering customers towards more expensive items in its "Buy Box" option to benefit third-party sellers. This has led to a lawsuit filed in Seattle federal court, seeking damages and potentially expanding to a class-action suit.
The lawsuit alleges that Amazon entices shoppers to choose items in the "Buy Box" over less expensive items elsewhere on the site, with evidence suggesting that shoppers chose items in the "Buy Box" nearly 98% of the time. Amazon is accused of creating an algorithm to benefit third-party sellers participating in the Fulfillment by Amazon program, collecting fees for their inventory management. Notably, this lawsuit seeks compensation for customers rather than pursuing anti-trust claims against Amazon (ANZM).
As a result of these legal developments, Amazon (AMZN) shares are up 2.5% on Friday.
More about Amazon.com Inc
Amazon.com Inc. is a prominent player in the retail-catalog & mail-order industry, with a market capitalization of $1,764,195,959,000 and a current stock price of $203.89. The stock has shown a 2.9% increase in the last quarter, with a Relative Strength Index (RSI) of 55.78, indicating a moderate level of buying interest. The company's stock performance is generally bullish, with a bullish trend indicated by the moving averages and Bollinger Bands. However, it is important to note that past market behavior is not always a reliable indicator of future performance, and there are potential risks and uncertainties associated with investing in this stock. Overall, market sentiment towards Amazon.com Inc. remains positive, as it continues to be a dominant force in the e-commerce and technology industry.
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