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California AG sues Amazon over allegedly anticompetitive pricing contracts

On Wednesday, the attorney general of California filed a lawsuit against Amazon, claiming that the e-commerce behemoth has harmed competition by requiring third-party merchants to list their products with them at the lowest possible pricing.JAMB Result

Amazon (AMZNuse )’s of contractual wording with third-party merchants that obligates them to “price parity” is the subject of a lawsuit filed in San Francisco Superior Court.

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“Merchants must agree not to offer lower prices elsewhere — including competing sites like Walmart, Target, eBay, and, in some cases, even on their own websites,” the office of California Attorney General Rob Bonta said in a release. Penalties for violating the agreement allegedly include fees or losing the opportunity to be featured prominently in Amazon product listings.Information Guide Nigeria
In a statement to CNN, Amazon said, “the California Attorney General has it exactly backwards. Sellers set their own prices for the products they offer in our store. Amazon takes pride in the fact that we offer low prices across the broadest selection, and like any store, we reserve the right not to highlight offers to customers that are not priced competitively. The relief the AG seeks would force Amazon to feature higher prices to customers, oddly going against core objectives of antitrust law.” The company called on the court to dismiss the suit “promptly.”
Chamber of Progress, a tech industry-backed advocacy group, said California’s suit, if successful, could “force Amazon to raise prices.”
“That makes no sense while consumers shop for bargains to counter inflation,” said Adam Kovacevich, the group’s CEO, adding that a similar suit by Washington, DC’s attorney general was dismissed last year by the Superior Court of the District of Columbia.

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Emediong Ekpe

Emediong Ekpe is a graduate of English. A professional Sports journalist/analyst, and a spoken word artist. He is passionate about decimating information and putting smiles on people's faces via news writing.

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