Amazon sued by FTC, 22 US states over advertising practices

Aug 31 : Amazon.com illegally raised prices for advertisers by surreptitiously raising the minimum price required to place ads that promote their products, the U.S. Federal Trade Commission alleged in a lawsuit filed in federal court Monday.The agency, joined by a bipartisan group of 22 U.S. states, said Amazon systematically inflated auction prices for advertisers without their knowledge, costing them $20 billion or more. "Amazon has been able to generate billions of dollars in profits — at the expense of its auction advertising customers," the FTC stated in its suit filed in federal court in the Western District of Washington state. Advertisers suffered billions of dollars in harm from higher ad prices, while the states could seek civil penalties and attempt to recover some of that money