The US Federal Trade Commission (FTC), in its lawsuit against Amazon for "unlawful use of monopoly power", stated that the company used an algorithm to increase prices by more than 1 billion dollars.
New details have emerged in the FTC's September lawsuit against US retail giant Amazon.
The complaint also sheds light on how the company requires sellers to use logistics and delivery services as part of its "Prime" feature.
In the complaint file, which includes statements that Amazon has created a secret algorithm to see if other online retailers are tracking prices and to increase the prices of products likely to be tracked by competitors, it was argued that Amazon used this algorithm to remove more than $ 1 billion from Americans' wallets.
FILED A LAWSUIT IN SEPTEMBER
The FTC sued Amazon in September for allegedly acting anticompetitively by illegally using its monopoly power.
The FTC argued that Amazon violated the law not because it was a large company, but because it engaged in exclusionary behavior that prevented existing competitors from growing and new competitors from emerging, noting that Amazon's actions ensured that no competitor threatened the company's market dominance.
The FTC stated that Amazon's scheme affects hundreds of billions of dollars in retail sales, hundreds of thousands of products sold by businesses large and small, and more than a hundred million consumers each year.