FTC sues Amazon, accuses company of illegally maintaining monopoly power
The Federal Trade Commission has filed a lawsuit against Amazon accusing the company of illegally maintaining monopoly power. The Federal Trade Commission and 17 state attorneys general filed a lawsuit against Amazon on Tuesday, accusing the company of illegally maintaining its monopoly power "to inflate prices, degrade quality, and stifle innovation for consumers and businesses." The major tech firm allegedly deployed illegal Business tactics "to stop rivals and sellers from lowering prices, degrade quality for shoppers, overcharge sellers, stifle innovation, and prevent rivals from fairly com Pet ing against Amazon," the FTC said in a statement. The sheer size of Amazon does not amount to a violation of the law, the FTC said. Rather, the agency's complaint centers on a set of "far-reaching schemes" that impact hundreds of billions of dollars in sales each year and hundreds of millions of shoppers. Logo of Amazon, Oct. 22, 2019. Philippe Lopez/AFP v...