Insights

Amazon sued by D.C. Attorney General for anticompetitive practices

Investors seem to be shrugging off the news, however. The post Amazon sued by D.C. Attorney General for anticompetitive practices appeared first on The Motley Fool Australia. –

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Amazon (NASDAQ: AMZN) is coming under fire from a well-armed legal figure. Karl Racine, the attorney general for Washington, D.C., has sued the company for engaging in anticompetitive behavior. This marks the first time that the massive retailer has been hit by an antitrust lawsuit in the U.S.

It’s part of a pattern, though. Amazon and other tech giants have lately come under increased scrutiny by lawmakers, which has led to a raft of antitrust suits being brought against them. 

The attorney general claims in the suit that the policies that govern Amazon’s relationships with third-party merchants prohibit those sellers from offering lower prices on non-Amazon sites. This makes the prices artificially high and helps the big retailer amass monopoly power. 

“Amazon is increasing its dominant stronghold on the market and illegally reducing the ability of other platforms to compete for market share,” Racine told Bloomberg.

Amazon fired back, with an unnamed spokesperson saying in a statement, “The D.C. Attorney General has it exactly backwards — sellers set their own prices for the products they offer in our store.”

Amazon added, “like any store we reserve the right not to highlight offers to customers that are not priced competitively.”

As reported by Bloomberg, Racine said he was unaware if other attorneys general would join the lawsuit — a common practice with suits against high-profile companies. He also said his case isn’t being coordinated with the Federal Trade Commission, the federal agency tasked with enforcing antitrust law.

Investors don’t seem too spooked by the lawsuit. On Tuesday, they pushed Amazon’s shares up by 0.4% while the S&P 500 slumped by 0.2%.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of February 15th 2021

More reading

Better buy: MercadoLibre vs. Amazon This tech ETF has returned 30% for ASX investors in the past year Are the FAANG stocks still good buys today? Here are the US shares ASX investors were buying last week Learning to love share price falls

The post Amazon sued by D.C. Attorney General for anticompetitive practices appeared first on The Motley Fool Australia.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!