bbc.co.uk

FTC and 22 States Sue Amazon Over Alleged Manipulation of Ad Pricing Auctions

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Sig5.29Sen-7.64Env0.00Soc-4.39Gov-8.77

The FTC and 22 states sued Amazon, alleging it secretly overcharged more than a million advertisers by manipulating online ad auctions used to set prices. The complaint claims the scheme since 2019 has generated about $20bn by replacing auction outcomes with higher prices and that advertisers and shoppers have absorbed the costs. Amazon disputes the allegations as shares fell 2.5%.

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