FTC And 22 States Sue Amazon (AMZN) Over Alleged Billions In Hidden Advertising Fees
Amazon.com (AMZN) shares fell roughly 3% after the Federal Trade Commission and 22 states filed a lawsuit accusing the company of secretly inflating advertising prices. The lawsuit, filed Monday, claims Amazon spent more than seven years quietly raising prices that advertisers paid through its online ad auctions without their knowledge. Regulators allege the scheme affected…