Amazon Faces Lawsuit Over Inflated Advertising Prices
The Federal Trade Commission (FTC) and 22 states have filed a lawsuit against Amazon, accusing the online retailer of inflating advertising prices for its customers.
According to the complaint, Amazon overcharged approximately 1.2 million advertising customers by misleading them about auction prices for ad products.
The FTC claims that Amazon advertised competitive prices on several ad products when in fact it was artificially inflating the prices of online auctions.
FTC Chairman Andrew Ferguson stated that 'when one of the world's largest online retailers engages in unfair and deceptive conduct, the impact can be staggering.'
In response to the lawsuit, Amazon released a blog post denying any wrongdoing, stating that the FTC's allegations are 'patently false'.