Amazon.com to Pay $2.5 Billion in FTC Settlement Agreement
Deep News09-25
Amazon.com has agreed to pay $2.5 billion to settle allegations with the Federal Trade Commission, which accused the company of misleading consumers into Prime membership subscriptions.
The legal action was initiated by the Federal Trade Commission in June 2023 under the Biden administration, alleging that Amazon.com deceived millions of customers into enrolling in its Prime subscription service while undermining their efforts to cancel the program.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.