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Case Status:    ONGOING    
On or around 02/08/2024 (Date of last review)

Filing Date: May 06, 2022

According to the Complaint, Amazon.com, Inc. is a multinational technology company that engages primarily in the businesses of e-commerce, cloud computing, digital streaming, and artificial intelligence.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) 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; (ii) the foregoing exposed Amazon to a heightened risk of regulatory scrutiny and/or enforcement actions; (iii) Amazon’s revenues derived from its private-label business were in part the product of impermissible conduct and thus unsustainable; and (iv) as a result, the Defendants’ public statements throughout the Class Period were materially false and/or misleading.

On July 22, 2022, the Court issued an Order appointing Lead Plaintiffs and Counsel. On August 17, the Court issued an Order consolidating cases. All future docketing was ordered to be done in the lead case 22-CV-00617.

Lead Plaintiffs filed a consolidated Complaint on September 20, 2022. Defendants filed a Motion to Dismiss the consolidated Complaint on November 21. On December 4, 2023, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint.

On February 6, 2024, Lead Plaintiffs filed a second consolidated Complaint.

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