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Amazon sued over secret ad bids that may cost businesses and shoppers billions

Amazon sued over secret ad bids that may cost businesses and shoppers billions

Amazon sued over secret ad bids that may cost businesses and shoppers billions
The complaint says about 1.2 million companies paid more than $20 billion in additional advertising fees because Amazon allegedly inserted secret bids into its ad auction, which raised the price of ad slots.
Amazon says the allegations are false. The FTC also says shoppers paid higher prices in stores, and the states are asking the court for an injunction and restitution.
After the filing, Amazon’s share price dropped on Monday.
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