AMAZON GOT SUED FOR HIGH BOOK PRICES

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.