Trending...
- Resident Inspect Joins Property Meld Nexus Network with API Integration
- Philadelphia's First Ginger Store Honored With City Citation for Nine Years of Health and Wellness
- Expert E-Bike Safety Advocate Issues Urgent Warning Following Recent Southern California Fatalities
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
- SpeedyIndex Rolls Out Automated API for Mass URL Verification, Solving the Backlink Blind Spot for SEO Agencies
- Michigan Attorney General Closed FGM Licensing Investigations Months Before Federal Case Ended, Records Show
- Client 1st Financial and Keystone Financial Management Donate 550+ Pounds of Food to New Bethany Inc
- Mensa Foundation Event Reframes Brain Health for Every Age
- DLT Resolution, Inc. (Stock Symbol: DLTI) Expands Into the $224 Billion Life Settlements Market While Accelerating Telecom Growth Across Canada
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
- Pollock Begg Partner Joseph R. Williams Featured on 'CEOs You Should Know' Podcast
- Ashley Wineland's 'Love + Heartbreak' Tour Brings her Emotional and Empowering Album 'Wineland' to Nationwide Audiences
- People & Stories/Gente y Cuentos Welcomes Two New Trustees as Organization Enters 54th Year and Expands Community Reach
- With a Dream and a Team, Monalisa Okojie Is Empowering the Next Generation Through EXPOSE NGO
- Best Companies Group Launches Best Places to Work in PA Program
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
- XMax Inc. (N A S D A Q) Accelerates AI Expansion With $4.8 Million Contracted Revenue, $30+ Million Enterprise Pipeline and Strategic SpaceX Exposure
- Lnk.Bio Becomes the First Link-in-Bio Service Fully Manageable from Inside ChatGPT
- Did Drake Just Find His Next Signee? Peoria Rapper Rhymi Gifts "ICEMANDRAKE" Domains, Drops Debut Album Same Day
- Andrew Tate Says Los Angeles Is "Where I Belong" as He Hints at USA Move
- RAS AP Consulting Advances to RFP Stage in Heidelberg Materials' SAP Vendor & Customer Master Data Modernization Initiative
- Expert E-Bike Safety Advocate Issues Urgent Warning Following Recent Southern California Fatalities
- VeneerVibe Releases 2026 Snap-On Veneers Market Report
- David Cavanagh Launches AI SEO Company For ChatGPT And AI Search Visibility
- Matthew Cossolotto Spotlights Make a Promise Day 2026 Events, Including Official Launch of Harness Your PromisePower and Issuing a "Peace Promise"
- Landmark Expands Services to Include Specialized Glass and Glazing Solutions Across Los Angeles
- As Pentagon Releases Ufo Files, Debut Ya Novel Predicted It All
- RAATV Premieres Original Reality Series "The Access Index: Jackson" June, 19
- Connecticut Resident Develops Patent-Pending Concept Exploring a New Approach to GPS Navigation
- JP Events Azerbaijan to Host 2nd Women in Motorsport Event During the Azerbaijan Grand Prix Week
- MMA Platform Makes History, Pays Jamey-Lyn Horth After Fans Vote on UFC Winnipeg Robbery
- Resident Inspect Joins Property Meld Nexus Network with API Integration
- Premiere Venue Group Announces $25,000 Sponsorship to Support Ann's Heart Programs and Events
- L2 Aviation Awarded IDIQ Contract by the U.S. Army for M1A2 Abrams Tank
- Sycor.Rental Named Among 2026 Best Microsoft Dynamics ERP Supply Chain Solutions
- KDG Redefines Enterprise Software Development with AI-Assisted and Agentic Delivery Model