Jeff Bezos Lost $5 Billion in 1 Day After Amazon FTC Lawsuit News

In the wake of the Federal Trade Commission’s antitrust lawsuit filed against Amazon on Tuesday, the e-commerce giant and its CEO, Jeff Bezos, are already taking a financial hit.

On Tuesday, the FTC — along with 17 state attorneys general — filed a lawsuit against Amazon, alleging that the company engaged in anticompetitive practices, unfairly promoting its own products and brands, and stifling competition.

Amazon has denied the allegations and defended its business practices, but that hasn’t stopped the tech giant from feeling the pinch of the high-profile lawsuit.

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