Amazon Says FTC Lawsuit Could Lead to Higher Prices, Slower Deliveries
Online commerce giant Amazon said Tuesday that a lawsuit from the Federal Trade Commission could lead to higher prices and slower deliveries for customers.
The Federal Trade Commission and 17 state attorneys general filed a lawsuit Tuesday against Amazon.com Inc. alleging the company uses "anticompetitive and unfair strategies to illegally maintain its monopoly power."
Amazon said the FTC was misusing its authority and that the agency failed to understand the retail marketplace.
"Today’s suit makes clear the FTC’s focus has radically departed from its mission of protecting consumers and competition," David Zapolsky, senior vice president of Global Public Policy and general counsel for Amazon, said in a statement. "The practices the FTC is challenging have helped to spur competition and innovation across the retail industry, and have produced greater selection, lower prices, and faster delivery speeds for Amazon customers and greater opportunity for the...