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Amazon.com Inc was slapped in a class action lawsuit on Thursday accusing the e-commerce giant of raising prices for eBooks by colluding with some publishers.
| Ticker | Safety | latest | Change | Change% |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 3,127.47 | -38.42 | -1.21% |
The lawsuit alleges that Amazon and the five largest U.S. publishers collectively known as the ‘Big Five’ agreed to limit prices that make consumers overpay for eBooks purchased from them through retail platforms. Other than Amazon.com
CONNECTICUT Investigating AMAZON Business E-Book
The lawsuit comes a day after Connecticut said it was investigating Amazon for potential anti-competitive behavior in the business that sells digital books.
FILE – Amazon.com Inc was slapped in a class action lawsuit on Thursday accusing the e-commerce giant of raising prices for eBooks by collusion with certain publishers. (AP Photo / Michel Spingler, Files)
Amazon declined to comment.
Approximately 90% of eBooks are sold through Amazon, the United States’ largest seller of eBooks, the lawsuit claims.
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Law firm Hagens Berman, who led the 2011 lawsuit, filed lawsuits against Apple Inc and the ‘Big Five’ over ebook prices.
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