FTC alleges Amazon illegally made $20 billion by rigging billions of ad auctions

The Federal Trade Commission and 22 states sued Amazon yesterday, alleging that it has conducted a secret scheme to overcharge advertisers for seven years. has secretly and systematically overcharged its approximately 1.2 million advertising customers by manipulating the 'auctions' that it uses to set the price of ads on its platform," the lawsuit said. "Amazon represents, and advertisers believe, that competitive auctions set the prices for advertising on its leadi