Digital Media Net - Your Gateway To Digital media Creation. News and information on Digital Video, VR, Animation, Visual Effects, Mac Based media. Post Production, CAD, Sound and Music
Categories: News

Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Amazon.com, Inc. (AMZN)

BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith reminds investors of the upcoming July 5, 2022 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Amazon.com, Inc. (“Amazon” or the “Company”) (NASDAQ: AMZN) stock between February 1, 2019 and April 5, 2022, inclusive (the “Class Period”).

Investors suffering losses on their Amazon investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

In June 2019, the U.S. House Committee on the Judiciary initiated a bipartisan investigation into the state of competition online, which examined the business practices and market dominance of Amazon, Facebook, Google, and Apple.

On March 9, 2022, media outlets reported that the House Judiciary Committee had requested the U.S. Department of Justice (“DOJ”) to open a criminal investigation into Amazon and certain of its executives for allegedly lying to Congress during the course of its investigation.

On April 6, 2022, The Wall Street Journal reported that the U.S. Securities and Exchange Commission is investigating how Amazon handled disclosures on employees’ use of third party sellers’ data to boost its own private-label business.

On this news, the Company’s stock price fell $105.98, or 3.2%, to close at $3,175.12 per share on April 6, 2022, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Amazon engaged in anticompetitive conduct in its private-label business practices, including giving Amazon products preference over those of its competitors and using third-party sellers’ non-public data to compete with them; (2) the foregoing exposed Amazon to a heightened risk of regulatory scrutiny and/or enforcement actions; (3) Amazon’s revenues derived from its private-label business were in part the product of impermissible conduct and thus unsustainable; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired Amazon stock during the Class Period, you may move the Court no later than July 5, 2022 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

Staff

Recent Posts

Appy Pie’s No-Code AI Design Platform Simplifies Holiday Creations for Christmas Posters and Avatars

NEW DELHI, Dec. 21, 2024 /PRNewswire/ -- Appy Pie Design, a leading No-code AI Design…

1 day ago

Thought Technology Ltd Celebrates 50 Years of Innovation and Excellence

Montreal-based Thought Technology Ltd wraps up its 50th year in business providing psychophysiological instrumentation to…

2 days ago

Gaudio Lab, Winner of CES Innovation Awards for Three Consecutive Years, to Unveil New Solutions at CES 2025

LAS VEGAS and SEOUL, South Korea, Dec. 20, 2024 /PRNewswire/ -- Gaudio Lab, a leader in…

2 days ago

Impossible Creative Unveils Cutting-Edge Immersive Experience at COP16

RIYADH, Saudia Arabia, Dec. 20, 2024 /PRNewswire/ -- Impossible Creative debuted innovative immersive storytelling technology…

2 days ago

Prescott, Arizona’s Jim & Linda Lee Performing Arts Center at Yavapai College Invests in Ayrton Rivale Profile and Karif-LT Fixtures

The Jim & Linda Lee Performing Arts Center, Northern Arizona’s premiere entertainment venue, has installed…

3 days ago

Perfect Corp. at CES 2025 to Highlight B2B Generative AI Innovations for Brands and B2C AI Features for Consumer Creators

Perfect Corp. will showcase AI-powered solutions and discuss the future of personalized consumer experiences at…

3 days ago