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Amazon.com Inc was sued on Thursday over a lawsuit accusing the e-commerce giant of raising e-book prices in collaboration with some publishers.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| 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, have agreed to price restrictions that cause consumers to pay too much for eBooks purchased through a retail platform outside Amazon.com.
CONNECTICUT INVESTIGATION OF AMAZON’S E-BOOK BUSINESS
The lawsuit comes a day after Connecticut said it was investigating Amazon for potentially anti-competitive behavior in the business that sells digital books.
FILE – Amazon.com Inc was sued on Thursday over a lawsuit accusing the e-commerce giant of raising e-book prices in collaboration with some publishers. (AP Photo / Michel Spingler, file)
Amazon declined to comment.
About 90% of e-books are sold by Amazon, the largest US e-book seller.
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Law firm Hagens Berman, which filed the lawsuit, filed a similar lawsuit in 2011 against Apple Inc. and the Big Five over e-book pricing.