- Amazon.Com Inc (NASDAQ: AMZN) has sought to reverse an Indian antitrust probe injunction by disqualifying a Reuters report highlighting its preferential treatment to a small seller group and bypassing foreign investment rules, Reuters reports.
- The Jan. 2020 trader group complaint induced Competition Commission of India (CCI) investigation order into Amazon and Walmart Inc’s (NYSE: WMT) Flipkart was put on hold in a month following the companies’ non-evidence plea.
- Last month, the CCI acknowledged the report’s validation regarding the original complaint.
- The CCI also submitted media clippings, including the Reuters story, as part of its court submission.
- Amazon’s counsel refuted Reuters’ allegations and challenged the use of the story that was published months after the CCI investigation launch. Additionally, newspaper stories were not judicially acknowledged, added the Amazon counsel.
- Reuters’ Feb. story alleged Amazon’s preferential treatment to a small seller group, including reduced fees and special contracts with big tech manufacturers based on internal Amazon documents dated between 2012 and 2019.
- Amazon refuted the allegations and asserted its compliance with Indian law in the report.
- price action: AMZN shares traded lower by 0.37% at $3,365.95 on the last check Friday.
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AMZN Stock – Amazon.com, Inc. ((NASDAQ:AMZN)), Wal-Mart Stores, Inc. ((NYSE:WMT)) – Amazon Defies Reuters’ Story As Evidence In Indian Antitrust Probe: Reuters
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