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The FTC Has Some Bad News for Amazon

THESTREET.COM
https://www.thestreet.com/video/14238185/the-ftc-has-some-bad-news-for-amazon.html

In conjunction with its review of Amazon.com's (AMZN)  purchase of Whole Foods Market (WFM) , the Federal Trade Commission is investigating claims made against the e-commerce giant, saying it misleads customers about pricing discounts, Reuters reports.

The FTC is reviewing a complaint brought by Consumer Watchdog, an advocacy group, which studied at least 1,000 products on Amazon's website in June, and concluded that the company placed reference prices on roughly 46% of the items.

An analysis deduced that in 61% of said items with reference prices, Amazon's reference prices were costlier than it had sold the products for in the previous 90 days, Consumer Watchdog said in a letter to the FTC.