QQQ   283.47 (+0.53%)
AAPL   147.22 (+0.56%)
MSFT   249.34 (+0.06%)
META   138.95 (-0.02%)
GOOGL   102.09 (+0.65%)
AMZN   121.13 (+0.15%)
TSLA   243.61 (+1.16%)
NVDA   136.03 (+2.98%)
NIO   15.85 (-1.18%)
BABA   84.63 (+0.28%)
AMD   69.79 (+2.72%)
T   15.71 (-1.38%)
MU   54.42 (-0.57%)
CGC   3.11 (+1.30%)
F   12.58 (+0.56%)
GE   67.00 (-0.65%)
DIS   100.88 (+0.08%)
AMC   7.50 (+2.32%)
PYPL   94.64 (+0.86%)
PFE   43.59 (-1.20%)
NFLX   239.80 (+1.30%)
QQQ   283.47 (+0.53%)
AAPL   147.22 (+0.56%)
MSFT   249.34 (+0.06%)
META   138.95 (-0.02%)
GOOGL   102.09 (+0.65%)
AMZN   121.13 (+0.15%)
TSLA   243.61 (+1.16%)
NVDA   136.03 (+2.98%)
NIO   15.85 (-1.18%)
BABA   84.63 (+0.28%)
AMD   69.79 (+2.72%)
T   15.71 (-1.38%)
MU   54.42 (-0.57%)
CGC   3.11 (+1.30%)
F   12.58 (+0.56%)
GE   67.00 (-0.65%)
DIS   100.88 (+0.08%)
AMC   7.50 (+2.32%)
PYPL   94.64 (+0.86%)
PFE   43.59 (-1.20%)
NFLX   239.80 (+1.30%)
QQQ   283.47 (+0.53%)
AAPL   147.22 (+0.56%)
MSFT   249.34 (+0.06%)
META   138.95 (-0.02%)
GOOGL   102.09 (+0.65%)
AMZN   121.13 (+0.15%)
TSLA   243.61 (+1.16%)
NVDA   136.03 (+2.98%)
NIO   15.85 (-1.18%)
BABA   84.63 (+0.28%)
AMD   69.79 (+2.72%)
T   15.71 (-1.38%)
MU   54.42 (-0.57%)
CGC   3.11 (+1.30%)
F   12.58 (+0.56%)
GE   67.00 (-0.65%)
DIS   100.88 (+0.08%)
AMC   7.50 (+2.32%)
PYPL   94.64 (+0.86%)
PFE   43.59 (-1.20%)
NFLX   239.80 (+1.30%)
QQQ   283.47 (+0.53%)
AAPL   147.22 (+0.56%)
MSFT   249.34 (+0.06%)
META   138.95 (-0.02%)
GOOGL   102.09 (+0.65%)
AMZN   121.13 (+0.15%)
TSLA   243.61 (+1.16%)
NVDA   136.03 (+2.98%)
NIO   15.85 (-1.18%)
BABA   84.63 (+0.28%)
AMD   69.79 (+2.72%)
T   15.71 (-1.38%)
MU   54.42 (-0.57%)
CGC   3.11 (+1.30%)
F   12.58 (+0.56%)
GE   67.00 (-0.65%)
DIS   100.88 (+0.08%)
AMC   7.50 (+2.32%)
PYPL   94.64 (+0.86%)
PFE   43.59 (-1.20%)
NFLX   239.80 (+1.30%)

FTC says Bezos, Jassy must testify in probe of Amazon Prime


Then Amazon CEO Jeff Bezos speaks at the the Amazon re:MARS convention on June 6, 2019, in Las Vegas. Federal regulators are ordering Amazon founder Jeff Bezos and CEO Andy Jassy to testify in their investigation of Amazon Prime Wednesday, Sept. 21, 2022, rejecting the company’s complaint that the executives are being unfairly harassed in the government's probe of the popular streaming and shopping service. (AP Photo/John Locher, File)

WASHINGTON (AP) — Federal regulators are ordering Amazon founder Jeff Bezos and CEO Andy Jassy to testify in the government's investigation of Amazon Prime, rejecting the company’s complaint that the executives are being unfairly harassed in the probe of the popular streaming and shopping service.

The Federal Trade Commission issued an order late Wednesday denying Amazon’s request to cancel civil subpoenas sent in June to Bezos, the Seattle-based company's former CEO, and Jassy. The order also sets a deadline of Jan. 20 for the completion of all testimony by Bezos, Jassy and 15 other senior executives, who also were subpoenaed.

Jassy took over the helm of the online retail and tech giant from Bezos, one of the world’s richest individuals, in July 2021. Bezos became executive chairman.

Amazon hasn’t made the case that the subpoenas “present undue burdens in terms of scope or timing,” FTC Commissioner Christine Wilson said in the order on behalf of the agency. However, the FTC did agreed to modify some provisions of the subpoenas that it acknowledged appeared too broad.

The FTC has been investigating since March 2021 the sign-up and cancellation practices of Amazon Prime, which has an estimated 200 million members around the globe.

The company said it was disappointed but not surprised that the FTC mostly ruled in favor of its own position, but it was pleased that the agency “walked backed its broadest requests" in the subpoenas.

“Amazon has cooperated with the FTC throughout the investigation and already produced tens of thousands of pages of documents," the company said in a statement. “We are committed to engaging constructively with FTC staff, but we remain concerned that the latest requests are overly broad and needlessly burdensome, and we will explore all our options."

In a petition to the FTC filed last month, the company objected to the subpoenas to Bezos and Jassy, saying the agency “has identified no legitimate reason for needing their testimony when it can obtain the same information, and more, from other witnesses and documents.” Amazon said the FTC was hounding Bezos, Jassy and the other executives, calling the information demanded in the subpoenas “overly broad and burdensome.”


The investigation has widened to include at least four other Amazon-owned subscription programs: Audible, Amazon Music, Kindle Unlimited and Subscribe & Save, as well as an unidentified third-party program not offered by Amazon. The regulators have asked the company to identify the number of consumers who were enrolled in the programs without giving their consent, among other customer information.

With an estimated 150 million U.S. subscribers, Amazon Prime is a key source of revenue, as well as a wealth of customer data, for the company, which runs an e-commerce empire and ventures in cloud computing, personal “smart” tech and beyond. Amazon Prime costs $139 a year. The service added a coveted feature this year by obtaining exclusive video rights to the NFL’s “Thursday Night Football.”

Last year, Amazon asked unsuccessfully that FTC Chair Lina Khan step aside from separate antitrust investigations into its business, contending that her public criticism of the company’s market power before she joined the government makes it impossible for her to be impartial. Khan was a fierce critic of tech giants Facebook (now Meta), Google and Apple, as well as Amazon. She arrived on the antitrust scene in 2017, writing an influential study titled “Amazon’s Antitrust Paradox” when she was a Yale law student.

7 Mid-Cap Stocks That Can be the Perfect Fit at Any Time

Mid-cap stocks are defined as those of companies that have a market capitalization (market cap) between $2 billion and $10 billion. This is a class of stocks that can offer solid growth and value. However, mid-cap stocks can be overlooked by even the most experienced investors.

One of the advantages of owning mid-cap stocks is diversification. Large-cap stocks can mitigate much of the volatility in the market, but they also can limit the upside growth. Small-cap stocks may offer strong growth potential, but they may not be a good choice for investors with a low-risk tolerance. By contrast, the right mid-cap stocks can be a Goldilocks alternative.

In this presentation, we're analyzing seven mid-cap stocks that are showing a nice mix of growth and value. The stocks cover a variety of sectors, and there are stocks for investors of all styles.

View the Stocks Here .

MarketBeat Resources

Premium Research Tools

MarketBeat All Access members have access to premium reports, best-in-class portfolio monitoring tools, and our latest stock picks.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies, and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau MarketBeat is rated as Great on TrustPilot

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | contact@marketbeat.com | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Privacy Policy | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart's disclaimer.