Trending...
- From Speech Therapy to 300+ Episodes: Brother Marcus Turns His Voice Into a Movement Launching a 24/7 Inspiration Radio Network on Day 100 of the Year
- Porter's Day Care Empowers Philadelphia's Future Through 45+ Years of Excellence
- Black Lion Indie Film Festival Returns May 1–3, 2026 with Film, Art, Networking, and Opportunities for Emerging Creatives
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Amazon.com, Inc. ("Amazon" or the "Company") (NASDAQ: AMZN) stock between February 1, 2019 and April 5, 2022, inclusive (the "Class Period"). Amazon investors have until July 5, 2022 to file a lead plaintiff motion.
Investors suffering losses on their Amazon investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
In June 2019, the U.S. House Committee on the Judiciary initiated a bipartisan investigation into the state of competition online, which examined the business practices and market dominance of Amazon, Facebook, Google, and Apple.
On March 9, 2022, media outlets reported that the House Judiciary Committee had requested the U.S. Department of Justice ("DOJ") to open a criminal investigation into Amazon and certain of its executives for allegedly lying to Congress during the course of its investigation.
More on The PennZone
On April 6, 2022, The Wall Street Journal reported that the U.S. Securities and Exchange Commission is investigating how Amazon handled disclosures on employees' use of third party sellers' data to boost its own private-label business.
On this news, the Company's stock price fell $105.98, or 3.2%, to close at $3,175.12 per share on April 6, 2022, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Amazon engaged in anticompetitive conduct in its private-label business practices, including giving Amazon products preference over those of its competitors and using third-party sellers' non-public data to compete with them; (2) the foregoing exposed Amazon to a heightened risk of regulatory scrutiny and/or enforcement actions; (3) Amazon's revenues derived from its private-label business were in part the product of impermissible conduct and thus unsustainable; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
More on The PennZone
If you purchased Amazon stock, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Investors suffering losses on their Amazon investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
In June 2019, the U.S. House Committee on the Judiciary initiated a bipartisan investigation into the state of competition online, which examined the business practices and market dominance of Amazon, Facebook, Google, and Apple.
On March 9, 2022, media outlets reported that the House Judiciary Committee had requested the U.S. Department of Justice ("DOJ") to open a criminal investigation into Amazon and certain of its executives for allegedly lying to Congress during the course of its investigation.
More on The PennZone
- Dual-Engine Growth Strategy Unleashed Targeting a $9.1B Market and the Exploding AI Biotech Revolution: KALA BIO (N A S D A Q: KALA)
- The Finger Comb, a Dream Inspired 3-in-1 Styling Tool introduced by Andrea L. Randolph Introduces
- Additions of Tennant, Morrissey, Cummings, Hale Highlight Fandoms at FAN EXPO Philadelphia
- GitKraken Desktop 12.0 Introduces Agent Mode: Gives Developers Ultimate Control & Visualization While Scaling Parallel Agent Workflows
- 5 Things to Check Before Calling for AC Repair in Philly
On April 6, 2022, The Wall Street Journal reported that the U.S. Securities and Exchange Commission is investigating how Amazon handled disclosures on employees' use of third party sellers' data to boost its own private-label business.
On this news, the Company's stock price fell $105.98, or 3.2%, to close at $3,175.12 per share on April 6, 2022, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Amazon engaged in anticompetitive conduct in its private-label business practices, including giving Amazon products preference over those of its competitors and using third-party sellers' non-public data to compete with them; (2) the foregoing exposed Amazon to a heightened risk of regulatory scrutiny and/or enforcement actions; (3) Amazon's revenues derived from its private-label business were in part the product of impermissible conduct and thus unsustainable; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
More on The PennZone
- Go Dental Clinic Announces Upcoming Opening of New Branch in International City, Dubai
- Dog Grooming Businesses Turn to Performance-Based Platforms to Attract Local Clients
- Hazel E Hosts Starline Tours Bus to Sonic Desert - A Launch to Coachella
- Best Companies Group Launches Free Top Companies to Work for in Arizona Program
- A Powerful Beginning Inside One of Philadelphia's Most Inspiring Early Childhood Education Centers
If you purchased Amazon stock, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Filed Under: Business
0 Comments
Latest on The PennZone
- Giftella Launches AI Gift-Finder App That Replaces Guesswork With Personalized Picks in Seconds
- Beverly.io Announces Nationwide Expansion and Poppins Payroll Partnership for Families
- Collectors gathered 'round the playing circle to compete for the rarest and best examples at Morphy's April 11 Premier Marbles auction
- New Book: The Battle for Truth and Shadows - Guardians of Light - Epic Fantasy Unveils a War Between Light and Deception
- Clash of Prompts: The World's First AI Prompt Battle Royale
- $7.6 Billion US Crypto ATM Market by 2034; California and Texas Crypto ATM Deployments for Bitcoin Bancorp (Stock Symbol: BCBC); 1000 Kiosk Inventory
- MainConcept Announces Multiview Encoding for Apple Immersive Video
- CCHR Rejects Global Psychiatric Push to Electroshock Children
- iVAM2-ST2110 to Simplify IP Transitions and Reduce Monitoring Complexity
- Americans Leave Behind or Discard 42% of Their Belongings When Moving Out for the First Time, Talker Research Finds
- Central Florida Luxury Real Estate Firm DANHOLM COLLECTION Partners with Luxury Presence to Expand Global Buyer Reach
- Advantage Marketing Launches 3-Minute Assessment to Help SMBs Diagnose and Fix Marketing Gaps
- RemodelCalculators.com Launches 15 Free Home Renovation Tools
- InterMountain Management Announces the Re-opening of Holiday Inn Express & Suites Alexandria
- CB Stuffer Expands New England Footprint with Launch at Common Man Roadside in Hooksett, NH
- Contracting Resources Group Named to the 2026 Inc. Regionals: Mid-Atlantic List
- Bishop Mary's WWDB 860 AM Show Nears Historic 250-Episode Milestone
- Dividend Stock Guru Unveils High Yield Dividend Stock Research Reports
- New Bethany Hosted "Food is Medicine" Roundtable with Community Leaders on April 1
- Charging Into the $30 Billion Heart Failure Market with Late-Stage Momentum, Breakthrough Data, & Strong Financial Backing: Cardiol Therapeutics $CRDL