THIS DAY IN HISTORY:
28 March 1970 The Bolshoi Theater was founded in Moscow in 17761970 Radio advertising was prohibited in Canada on Sundays1970 Radio advertising was prohibited in Canada on Sundays1970 the Turkish cities of Constantinople and Angora received the names Istanbul and Ankara.1970 the Turkish cities of Constantinople and Angora received the names Istanbul and Ankara.1970 The Bolshoi Theater was founded in Moscow
Several Amazon buyers have filed a class action lawsuit. They accused the corporation of violating antitrust laws, suggesting Amazon was colluding with publishers to set higher prices for e-books.
The plaintiffs stated that back in 2015, Amazon became a conspirator along with major book publishers such as Hachette, HarperCollins, Macmillan, Penguin Random House and Simon & Schuster. Business Insider reports that by means of such a conspiracy, the prices of e-books were raised by 30%.
For Amazon, this meant huge profits, as the corporation controlled 90% of the e-book market in 2018.
Amazon has been found to have committed antitrust violations before. However, Apple was previously involved in collusion with the aforementioned publishers as well - then the prices for e-books rose by 50% overnight. The company was later found guilty and paid a fine of $ 450 million.
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