Amazon said poised to meet with FTC next week
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Amazon.com (NASDAQ:AMZN) is expected to meet with the U.S. Federal Trade Commission next week ahead of a potential antitrust lawsuit against the retailer, Reuters reported, citing a source familiar with the matter.
The FTC holds meetings with companies after investigations before deciding whether to file a suit.
Shares rose 1.6% on Monday.
The FTC has been probing Amazon for years, since the Trump administration. The retailer has been criticized with favoring its own products over outside sellers on its platform.
In June, the FTC sued Amazon, accusing it of enrolling millions of consumers into its paid subscription service without consent and making it hard to cancel. Amazon called the FTC's claims "false on the facts and the law."
In May, the FTC settled with Amazon's Ring doorbell camera unit for $5.8M after the agency said cameras had been used for spying on some customers.
Amazon (AMZN) jumped last week after reporting better-than-expected results for the second quarter.
AMZN is up 65% so far this year and down 0.5% over the past 12 months.
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