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Amazon Plunges as FTC Prepares Antitrust Lawsuit Over Ad Pricing

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The Story

News Summary

  • Amazon faces a major antitrust lawsuit from the FTC and over 20 state attorneys general accusing it of secretly manipulating ad auction prices and overcharging merchants.
  • Shares dropped over 3% as regulators target its high-margin digital advertising business, which brought in tens of billions in profit.
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