Here’s how Amazon’s price fixing allegedly drove up prices everywhere [Verge, The]
Walmart Inc. (WMT)
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Source: Verge, The
On Monday, California Attorney General Rob Bonta revealed the evidence of alleged price-fixing by Amazon . The state filed a request to the Supreme Court in February for a preliminary injunction to stop Amazon's behavior while the lawsuit it originally filed in 2022 proceeds, and is now making that 16-page document available, “largely unredacted.” It lays out how Amazon allegedly schemed to raise other retailers' prices ahead of Prime Day, or worked with its vendors to make sure items available at a discount elsewhere were suddenly out of stock and unavailable for the lower price. Bonta says this document shows how the scheme works with Amazon, vendors, and its supposed competition, like Walmart, Target, Best Buy, Chewy, and Home Depot, in three ways: Amazon or its competitor, through their common vendor, will agree to increase the retail price or make a product temporarily unavailable, so that the other retailer can match the increased market price, increasing the price for
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