The Federal Trade Commission announced a settlement against Amazon.com (AMZN) and its Senior Vice President Neil Lindsay and Vice President Jamil Ghani. The order settles allegations that Amazon “enrolled millions of consumers in Prime subscriptions without their consent, and knowingly made it difficult for consumers to cancel,” the agency said in a statement Amazon will be required to pay a $1B civil penalty, provide $1.5B in refunds back to consumers harmed by its “deceptive” Prime enrollment practices, and cease unlawful enrollment and cancellation practices for Prime, according to the Justice Department.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMZN:
- Starbucks announces restructuring, CoreWeave expands OpenAI pact: Morning Buzz
- Amazon to settle FTC Prime case for $2.5B
- Amazon to pay $2.5B to settle FTC Prime case, Bloomberg reports
- Trump Trade: President anticipated to sign TikTok agreement Thursday
- U.S. Tiger Securities Downgrades Alibaba Stock (BABA), While Other Analysts Remain Bullish
