Amazon founder Jeff Bezos on Wednesday led his last shareholder meeting as CEO, announcing the date on which he'll pass the reins to his replacement while highlighting some challenges going forward and pushing back against claims that Amazon has become too big and powerful.
Racine
WASHINGTON (Legal Newsline) – To file an antitrust lawsuit against Amazon, District of Columbia Attorney General Karl Racine has chosen Hausfeld LLP – a firm that features a former employee at the D.C. AG’s Office and whose founder once employed a now-deputy AG who signed the complaint.
The contingency fee contract scored by Hausfeld LLP is so potentially lucrative that it includes a stipulation that the firm can’t take more than $55 million in fees. Helping lead the litigation will be antitrust veteran Paul Gallagher, who previously worked at the Department of Justice and the D.C. Attorney General’s Office.
Amazon.com Inc was on Tuesday hit with an antitrust suit from the US capital city Washington, which said the tech giant abuses its dominant position in online retail sales, harming consumers.
The suit filed by the office of District of Columbia Attorney General Karl Racine says that Amazon’s control of 50 to 70 percent of US e-commerce sales allegedly results in higher consumer prices.
“Amazon’s online retail sales platform benefits from, and is protected by, Amazon’s anticompetitive business practices,” the suit filed in the District of Columbia Superior Court says. “Far from enabling consumers to obtain the best products at the lowest
District of Columbia Attorney General Karl Racine alleged in an antitrust lawsuit that Amazon blocks sellers on its marketplace from offering lower prices elsewhere to stymie competition.