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On Thursday, Amazon entered into a settlement agreement with the U.S. Federal Trade Commission (FTC), effectively putting an end to a legal battle that alleged the tech giant employed "misleading" design tactics on its platforms to coerce consumers into subscribing to its Prime service. According to official court filings, Amazon has agreed to pay a hefty sum of $2.5 billion to settle the dispute. This settlement includes a staggering $1 billion in civil penalties and an additional $1.5 billion in restitution, which will be distributed among roughly 35 million consumers who were impacted by these practices. Following the public announcement of the settlement, Amazon's stock price experienced a slight dip of 0.94% for the day, ultimately closing at $218.15 per share.
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