Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Amazon Sued for £2.7bn by UK Third-Party Sellers Over Anticompetitive Practices

by June 28, 2024
June 28, 2024
Amazon Sued for £2.7bn by UK Third-Party Sellers Over Anticompetitive Practices

Amazon is facing a £2.7 billion legal action in the UK over allegations of anticompetitive conduct.

The lawsuit, led by Andreas Stephan, a professor of competition law at the University of East Anglia, represents more than 200,000 British third-party sellers on Amazon’s platform.

The claim, filed on Thursday at the competition appeal tribunal, accuses Amazon of exploiting its dominant position in the UK’s ecommerce marketplace to favour its own retail offers and logistics services, known as Fulfilment by Amazon. This collective “opt-out” action automatically includes all affected third-party sellers, reflecting the dispersed nature of the harms and the limited resources of individual sellers to challenge one of the world’s largest corporations.

Stephan argues that Amazon has implemented various strategies to boost its platform, restrict competitor growth, and exploit third-party sellers. The alleged tactics include imposing unfair conditions on access to Amazon Prime and distorting competition by hindering third-party sellers from offering lower prices on other platforms.

These practices, according to Stephan, have resulted in third-party sellers losing sales, facing increased costs, and paying higher fees to Amazon than they would under normal competitive conditions. He contends that many independent sellers are heavily reliant on Amazon’s platform, making them susceptible to such abuses.

The lawsuit claims Amazon’s actions have led to a significant loss of income for third-party sellers and increased operational costs, while Amazon’s net income soared to $10.4 billion in the first quarter of this year, a near tripling from the previous year on a 13% revenue rise to $142.4 billion.

Stephan, also head of UEA’s law school, stated his intent is to secure compensation for UK sellers and to push for fairer treatment by Amazon in the future. His efforts have garnered support from industry experts like Stephen Robertson, former director general of the British Retail Consortium, and Damien Geradin, a solicitor specialising in digital marketing law, who cited similar recognitions of Amazon’s dominant position abuses by EU and UK competition authorities.

An Amazon spokesperson responded to the lawsuit, expressing confidence that the allegations are baseless and will be disproven through the legal process.

Read more:
Amazon Sued for £2.7bn by UK Third-Party Sellers Over Anticompetitive Practices

0
FacebookTwitterGoogle +Pinterest
previous post
Debt Defaults Due to Higher Interest Rates Could Harm Economy, Warns Bank of England
next post
Stagnant Income Growth Leaves UK Households Struggling, Reports Resolution Foundation

You may also like

From pitch to partnership: Building long-term value with...

June 25, 2024

What Legal Preparations Are Needed Before Trading Crypto...

February 20, 2025

Post Office Horizon inquiry: ‘enough evidence for police...

December 30, 2023

British butchers see sales boost as plant-based alternatives...

July 4, 2023

How Biometrics Can Enhance Identity and Security

September 9, 2024

UK manufacturers predicting biggest fall in growth since...

September 22, 2022

Half of big international firms to cut office...

June 7, 2023

‘Bridgerton Effect’ Adds £275 Million to UK Economy,...

June 16, 2024

From Deals to Omnichannel Marketing: Customer Retention Strategies...

February 14, 2025

Tories Mull Stamp Duty Cut Ahead of General...

April 20, 2024

From pitch to partnership: Building long-term value with...

June 25, 2024

What Legal Preparations Are Needed Before Trading Crypto...

February 20, 2025

Post Office Horizon inquiry: ‘enough evidence for police...

December 30, 2023

British butchers see sales boost as plant-based alternatives...

July 4, 2023

How Biometrics Can Enhance Identity and Security

September 9, 2024

UK manufacturers predicting biggest fall in growth since...

September 22, 2022

Half of big international firms to cut office...

June 7, 2023

‘Bridgerton Effect’ Adds £275 Million to UK Economy,...

June 16, 2024

From Deals to Omnichannel Marketing: Customer Retention Strategies...

February 14, 2025

Tories Mull Stamp Duty Cut Ahead of General...

April 20, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • MPs slam Home Office for failing to track foreign workers after visa expiry

      July 4, 2025
    • Smaller firms escape Companies House rule change as government pauses ‘burdensome’ filing reform

      July 4, 2025
    • TfL hit with legal action over licence delays impacting Uber and minicab drivers

      July 4, 2025
    • Rachel Reeves hints at fresh tax hikes amid fears of £40bn Budget black hole

      July 4, 2025
    • North Korea lashes out after Trump DOJ exposes massive IT infiltration scheme

      July 4, 2025
    • Wimbledon winners to pay up to £1.3m in tax as HMRC claims £17m from prize pot

      July 4, 2025

    Categories

    • Business (8,384)
    • Investing (2,102)
    • Politics (15,942)
    • Stocks (3,189)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved