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Amazon Reaches $2.5 Billion Settlement With FTC Over 'Deceptive' Prime Program
Amazon will pay $2.5 billion to settle Federal Trade Commission allegations that it duped users into paying for Prime memberships, the regulatory agency announced Thursday. CNBC: The surprise settlement comes as Amazon and the FTC were just three days into the trial in a Seattle federal court. Openi...
CNBC: The surprise settlement comes as Amazon and the FTC were just three days into the trial in a Seattle federal court. The lawsuit, filed by the FTC in June 2023 under the Biden administration, claimed that Amazon deceived tens of millions of customers into signing up for its Prime subscription program and sabotaged their attempts to cancel it. Three senior Amazon executives were at risk of being held individually liable if the jury sided with the FTC.
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