Amazon to pay a 1 billion dollar fine

by Matthew G. Technology Writer

Amazon’s UK marketplace may have violated antitrust law by using non-public third-party seller data in its retail business, selecting which product offers appear in the ‘Buy Box,’ and certifying which sellers may list products under the ‘Prime label,’ according to investigators.

The Amazon law suit will be filed at the Competition Appeal Tribunal by Oct. 31, and damages, which are based on economists’ estimates of potential losses, could be as much as £900 million ($1 billion).