Trending...
- New Home of the Month: Spacious Luxury Meets Modern Design in The Bristol at Heritage at Manalapan
- Calvetta Phair, CEO America's Workforce Solution, LLC Assessed "Awardable" for Department of War work in the CDAO's Tradewinds Solutions Marketplace
- Thou Shalt not Commit Adultery Lifetime Movie Discussion
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
- P-Wave Classics Opens Pre-Orders for Volume II of Robert Bage's Hermsprong
- Cabinetworks Group announces recipient of 2025 Plant of the Year
- Honesdale Painters Launch Season With Act of Community Kindness
- Tuckwell Machinery Launches New Range of Woodworking Machinery
- A Brave Little Hero with Four Paws
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
- Pittsburgh-Area Author Erica L. Day Releases HER, a Christian Second-Chance Romance and Its Own Comp
- Revenue Optics Expands Its Private Equity Practice as Sponsors Move Inside Sales to the Center of Distribution Value Creation
- Ecuador Freedom Launches First Scheduled Motorcycle Tour of Northern Peru's Lost Kingdoms
- Lineus Medical Completes Financial Restructuring with KMF Investments- Launching a New Era for SafeBreak
- Neuro Recovery Institute Showcases Emerging Immersive Neuro-Rehabilitation Technology at Clinical Innovation Open House
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
- Wellness Technology Distributor Helping People Set Up Wellness Center Businesses
- Christian Apocalyptic Thriller Explores Biblical Prophecy, Global Technology, & the Rise of the Ant
- Turnstone Creative Expands Leadership Team with Addition of Marketing Manager
- The Hidden Price Of Lost Property In UK Schools
- Milton Collier, CEO & President of Freight Broker 911, Eliminates the #1 Barrier to Entry in Logistics: Announces 100% Free Freight Broker Training
- FDA-Cleared AI Neuropsychiatry Platform, Million-Dose Ketamine Manufacturing and Presidential Psychedelic Initiative Drive Growing Momentum for NRXP
- AI Velocity Trading Launches Institutional-Grade Algorithmic Engine for Retail Investors
- Calvetta Phair, CEO America's Workforce Solution, LLC Assessed "Awardable" for Department of War work in the CDAO's Tradewinds Solutions Marketplace
- Speaker and Certified Coach Syrena N. Williams Debuts Powerful New Book on Healing, Identity, and Wholeness
- Lord of the Rings, Doctor Who' Q&As, Local Sessions Highlight FAN EXPO Philadelphia Programming
- Kryptokasinot.io Raises Concerns Over Proposed Cryptocurrency Restrictions in Finland's Gambling Reform
- New Home of the Month: Spacious Luxury Meets Modern Design in The Bristol at Heritage at Manalapan
- The Calida Group Announces Sale of Ely at Fort Apache for $57.5 Million
- Tina Hasselbusch, co-founder and CEO of Turnstone Creative, Receives Circle of Excellence from Lehigh Valley Business
- Summer Festivals in Gunma Prefecture: Song, Dance, and Vibrant Color – Get There Via Tobu Railway!
- Jetperch Introduces Joulescope JS320 Precision Energy Analyzer for Low-Power Embedded System Development
- AI-Powered Trading Bots Are Transforming Forex, Gold, and Digital Markets as DefiHash Expands Intelligent Quantitative Infrastructure
- Early Bird Registration Open for FLYING HY, the Top Hydrogen and Battery Electric Aviation Event
- Eichelberger Performing Arts Center Welcomes New Executive Director
- Century Fasteners Corp. Hires Tony Marano as Director of Human Resources