The Federal Trade Commission (FTC) recently filed an antitrust lawsuit against the E-commerce giant, Amazon, citing the company’s monopoly power.
NEW: Left-wing extremists running Biden FTC file new sham lawsuit to destroy @Amazon for being successful. Biden regime effectively seeks government takeover of Amazon. (@JeffBezos financial support for Left hasn't been enough to stave off communists who hate and want to destroy…
— Tom Fitton (@TomFitton) September 26, 2023
The FTC’s lawsuit was filed on Sept. 26, 2023, in conjunction with 17 state attorney generals, who accused Amazon of illegally maintaining its monopoly power to “inflate prices, degrade quality, and stifle innovation for consumers and business,” according to One America News (OAN).
The states that joined the FTC in its lawsuit were Connecticut, Delaware, Maryland, Michigan, Maine, Massachusetts, Minnesota, New Jersey, New Hampshire, New Mexico, Nevada, New York, Oklahoma, Oregon, Pennsylvania, Rhode Island, and Wisconsin.
“Our complaint lays out how Amazon has used a set of punitive and coercive tactics to unlawfully maintain its monopolies,” FTC Chair Lina Khan said.
“The complaint sets forth detailed allegations noting how Amazon is now exploiting its monopoly power to enrich itself while raising prices and degrading service for the tens of millions of American families who shop on its platform and the hundreds of thousands of businesses that rely on Amazon to reach them,” Khan added.
Khan said the FTC brought its case against Amazon because the company’s “illegal conduct has stifled competition across a huge swath of the online economy.”
The lawsuit alleges that Amazon, the world’s largest online retailer, is operating without competition in two markets, thereby allowing it to conduct “monopolistic practices.”
Amazon fired back at the FTC’s lawsuit, accusing the independent agency of steering away from its mission to protect the American public “from deceptive or unfair business practices and from unfair methods of competition through law enforcement, advocacy, research, and education.”
“Today’s suit makes clear the FTC’s focus has radically departed from its mission of protecting consumers and competition,” Amazon said.
“The practices the FTC is challenging have helped to spur competition and innovation across the retail industry, and have produced greater selection, lower prices, and faster delivery speeds for Amazon customers and greater opportunity for the many businesses that sell in Amazon’s store,” the company added.
This is not the first time the FTC has taken action against Amazon. In June 2023, the agency accused the E-commerce giant of using deceitful tactics in the marketing process for its Prime subscription service, OAN reported.