Amazon.com, Inc.
A class action lawsuit has been filed in the USDC, W.D. WA., on behalf of purchasers of the securities of Amazon.com, Inc. (NASDAQ: AMZN) between February 1, 2019 and April 5, 2022, inclusive (the “Class Period”).
According to the Complaint, Amazon.com, Inc. is a multinational technology company that engages primarily in the businesses of e-commerce, cloud computing, digital streaming, and artificial intelligence.
- Amazon engaged in anticompetitive conduct in its private-label business practices, including giving Amazon products preference over those of its competitors and using third-party sellers’ non-public data to compete with them;
- the foregoing exposed Amazon to a heightened risk of regulatory scrutiny and/or enforcement actions;
- Amazon’s revenues derived from its private-label business were in part the product of impermissible conduct and thus unsustainable; and
- as a result, the Defendants’ public statements throughout the Class Period were materially false and/or misleading.
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