The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Amazon.com, Inc. (NASDAQ: AMZN) who purchased shares between February 1, 2019 and April 5, 2022. The action, which was filed in the United States District Court for the Western District of Washington, alleges that the Company violated federal securities laws.
In particular, the Amazon lawsuit alleges that (i) Amazon engaged in anticompetitive conduct in its private-label business practices, including giving Amazon products preference over those of its competitors and using third-party sellers’ non-public data to compete with them; (ii) the foregoing exposed Amazon to a heightened risk of regulatory scrutiny and/or enforcement actions; (iii) Amazon’s revenues derived from its private-label business were in part the product of impermissible conduct and thus unsustainable; and (iv) as a result, the defendants’ public statements throughout the class period were materially false and/or misleading.
Shareholders have until July 5, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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