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Amazon.com Inc was attacked with a class action lawsuit on Thursday accusing the e-commerce giant of inflating e-book prices in collusion with some publishers.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 3,127.47 | -38.42 | -1.21% |
The lawsuit alleges that Amazon and the five largest publishers in the United States, collectively called the ‘Big Five’, have agreed to price restrictions that cause consumers to overpay for eBooks purchased through a retail platform other than Amazon .with.
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The lawsuit comes a day after Connecticut said it was investigating Amazon for potential anti-competitive behavior in its digital book selling business.
ARCHIVE – Amazon.com Inc was attacked with a class action lawsuit on Thursday accusing the e-commerce giant of inflating e-book prices in collusion with some publishers. (AP Photo / Michel Spingler, Archives)
Amazon declined to comment.
About 90% of e-books are sold by Amazon, the largest e-book seller in the United States, the suit says.
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The law firm Hagens Berman, opening the case, in 2011 filed a similar lawsuit against Apple Inc and the ‘Big Five’ over ebook prices.