AMZN Jeff

[agent006140]

he Democratic-led House Judiciary Committee on Friday called on Amazon.com Inc. AMZN, -6.98% CEO Jeff Bezos to appear before the panel, which has been investigating the e-commerce giant's role in the digital marketplace. "On April 23, the Wall Street Journal reported that Amazon used sensitive business information from third-party sellers on its platform to develop competing products, contradicting representations that Amazon made to the House Judiciary Committee in sworn written and oral testimony at a hearing on July 16, 2019," the panel said in a news release. In a letter to Bezos, the committee said that it expects the CEO to testify given its investigation and recent public reporting. "If the reporting in the Wall Street Journal article is accurate, then statements Amazon made to the Committee about the company's business practices appear to be misleading, and possibly criminally false or perjurious," the letter also said.
Read Next

[phaz0rz]

This has been common knowledge here for years and it's pissed off plenty of sellers. Amazon requires invoices to ungate certain items/categories, then they use those invoices to contact your supplier and yank the rug from under you by buying millions of units, where you're only able to buy a few hundred/thousand at a time. They slap an "Amazon Basics" sticker on the item you were previously selling and proceed to run you out of business, or at least out of selling that item/category of items.

I seriously doubt this will lead to any changes in their business practices though. Amazon is about as close as an entity can be to being untouchable in the eyes of the law.