Amazon made $1 billion through secret price raising algorithm -US FTC

FILE PHOTO: The logo of Amazon is seen, November 15, 2022. REUTERS/Pascal Rossignol/File Photo

WASHINGTON (Reuters) -Amazon.com used a series of illegal strategies to boost profits at its online retail empire, including an algorithm that pushed up prices U.S. households paid by more than $1 billion, the U.S. Federal Trade Commission detailed in a new court filing on Thursday.

The FTC lawsuit was filed in September but many details were withheld until Thursday when a version of the lawsuit with fewer redactions was made public in U.S. District Court in Seattle.