Amazon Sued by FTC and 22 States Over Advertising Practices
· Telemundo McAllen (KTLM)
Amazon illegally raised prices for advertisers by covertly increasing the minimum required price to run ads promoting its products, the U.S. Federal Trade Commission (FTC) alleged in a lawsuit filed Monday in federal court. The agency, along with a bipartisan group of 22 U.S. states, claimed that Amazon systematically inflated auction prices without advertisers' knowledge, costing them $20 billion or more. 'Amazon has been able to generate billions of dollars in profits at the expense of its advertising customers in auctions,' the FTC stated in the lawsuit filed in the U.S. District Court for the Western District of Washington. Advertisers suffered losses of billions due to the price hikes, while the states may seek civil penalties and attempt to recover some of that money, according to the FTC.
AI summary · Source: Telemundo McAllen (KTLM) →
