FTC, states sue Amazon for anti-competitive practices

The Federal Trade Commission (FTC) in conjunction with attorneys general from 17 states filed an antitrust lawsuit against Amazon on Tuesday. The lawsuit alleges that the tech giant has leveraged its dominant market position to inflate product prices and stifle competition. The FTC alleges that Amazon's third-party e-commerce business engages in anti-competitive practices. For instance, it forces sellers to purchase Amazon's advertising and delivery services, with fees for such services accounting for approximately 50 percent of a seller’s income.