Amazon Edges Lower on Report Congress Panel Members Feel it Misled Them

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Stock Markets29 minutes agone (Oct 18, 2021 07:46AM ET)

Amazon Edges Lower connected  Report Congress Panel Members Feel it Misled Them © Reuters.

By Dhirendra Tripathi – Amazon banal (NASDAQ:) traded 0.3% little successful Monday’s premarket connected a study successful The Wall Street Journal that members of a legislature committee privation the institution to reply if laminitis Jeff Bezos and different elder executives misled them.

At the bosom of the substance are accusations that Amazon uses the information of third-party sellers connected its tract to transcript products portion creating its ain private-label items and putting them astatine an vantage successful search. The institution denies the accusations.

In a missive sent to CEO Andy Jassy, 5 members asked the institution to supply “exculpatory evidence” to corroborate the sworn grounds that respective leaders provided to a subcommittee successful 2019 and 2020.

The subcommittee investigated the retailer’s usage of information from third-party sellers.

The members asked the institution to close the grounds portion they see whether a referral to the Department of Justice for a transgression probe is appropriate, the WSJ study said.

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