The Wall Street Journal reported on Monday – citing officials at the US Federal Trade Commission (FTC) – that the FTC plans to file a lawsuit against Amazon, accusing it of manipulating advertising prices on its e-commerce platform.
Amazon shares fell 2.8 percent on Monday following the Wall Street Journal report.
According to the report, the commission plans to file a lawsuit in federal court in Seattle, alleging that Amazon manipulated the prices companies paid for advertising on its platform over a seven-year period.
More than 20 state attorneys general from both parties are expected to join the case.
US Federal Trade Commission to sue Amazon for deceiving advertisers: Wall Street Journal Egypt Independent.
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