"FTC and 17 states take legal action against Amazon for alleged antitrust violations"

The Federal Trade Commission (FTC) and attorneys general from 17 states have filed an antitrust lawsuit against Amazon, accusing the company of using its "monopoly power" to inflate prices, degrade quality, and unlawfully exclude rivals. The FTC alleges that Amazon employs anti-discounting measures to punish sellers and deter other online retailers from offering lower prices, effectively keeping prices higher across the internet. Additionally, the agency claims that Amazon forces sellers to use its costly fulfillment services to obtain the Prime badge, making it more expensive to do business on the platform. Amazon's general counsel argues that the practices being challenged have spurred competition and innovation, benefiting customers and businesses. This lawsuit marks a significant milestone for FTC Chair Lina Khan, who has been pushing the boundaries of antitrust law.