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(Washington, DC) — The Federal Trade Commission is suing Amazon. FTC Chairman Andrew Ferguson says the world’s largest online retailer manipulated pricing and overcharged over a million advertisers.
The lawsuit alleges 80-percent of sponsored product ad auctions were rigged. Twenty-two state attorneys general filed the lawsuit Monday accusing the company of making over 20-billion-dollars off the scheme since 2019.
An Amazon spokesperson says it “strongly disagrees” and asserts the FTC doesn’t understand how advertising works.
