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