Amazon slapped with class-action lawsuit accusing e-commerce giant of inflation e-book prices
Suit alleges Amazon, five largest US publishers, agreed to price restraints, caused consumers to overpay
Amazon.com Inc was slapped with a class-action lawsuit on Thursday accusing the e-commerce giant of inflating the prices of ebooks in collusion with some publishers.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 205.74 | -2.12 | -1.02% |
The lawsuit alleges that Amazon and the five largest U.S. publishers, collectively called the 'Big Five', agreed to price restraints that cause consumers to overpay for eBooks purchased from them through a retail platform other than Amazon.com.
CONNECTICUT INVESTIGATING AMAZON'S E-BOOK BUSINESS
The lawsuit comes a day after Connecticut said it was investigating Amazon for potential anti-competitive behavior in its business selling digital books.
FILE - Amazon.com Inc was slapped with a class-action lawsuit on Thursday accusing the e-commerce giant of inflating the prices of ebooks in collusion with some publishers. (AP Photo/Michel Spingler, File)
Amazon declined to comment.
About 90% of eBooks are sold through Amazon, the largest U.S. eBooks seller, the lawsuit claimed.
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Law firm Hagens Berman, bringing the case, in 2011 filed a similar lawsuit against Apple Inc and the ‘Big Five’ over ebook prices.
