Now, Amazon Faces Antitrust Lawsuit in California

TipRanks2022-09-15

Story HighlightsAccused of blocking third-party sellers from offering lower prices elsewhere, California sues Amazon for violating its antitrust law.California filed a lawsuit against Amazon (NASDAQ:...

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JaneJane
2022-09-15
JaneJane
😔
Newbaby
2022-09-15
Newbaby
👍
Hi001
2022-09-15
Hi001
[Cool]
- Squ00:
  [Applaud]
- Squ00:
  [Surprised]
- Squ00:
  [Happy]
- Squ00:
  [Yummy]
- jaffer:
  ok
Andrewinho
2022-09-15
Andrewinho
Ready to grab!! 😱😱😱
- Rabbit63:
  [Happy]
Ah Deck
2022-09-15
Ah Deck
👎🏻
gcwehc
2022-09-15
gcwehc
zzzzz...

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California’s Attorney General Rob Bonta said that AMZN is blocking third-party sellers on its platform from selling products at lower prices elsewhere. Bonta added that AMZN’s practice pushes prices higher for California consumers.Bonta said that Amazon entered into an anticompetitive agreement with third-party sellers and wholesale suppliers on its platform to insulate itself from price competition. He added that due to these agreements, third-party sellers and wholesale suppliers are unable to offer lower prices elsewhere, including its competitors like Walmart (NYSE:WMT) and Target (NYSE:TGT).Though it’s unclear how this lawsuit will impact Amazon, a similar kind of lawsuit was filed against it last year in Washington, D.C., which was later dismissed. 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