Amazon is facing a collective lawsuit.
$Amazon (AMZN.US)$ Amazon is facing a collective lawsuit in the United Kingdom, accused of using a 'secret' algorithm to abuse its dominant position in the online marketplace. According to the law firm Hausfeld, responsible for the case, Amazon hides more favorable trades by using a 'secret and self-serving algorithm' in the Buy Box feature, thereby causing millions of customers to pay higher prices. Hausfeld claims that, according to economists' estimates, potential consumer losses could reach as high as 0.9 billion British pounds.
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