Amazon settles FTC lawsuit over Prime subscription practices for record $2.5B settlement

Amazon has agreed to pay $2.5 billion to settle a lawsuit alleging it misled customers into paying for Prime subscriptions, the Federal Trade Commission (FTC) announced Thursday. The announcement came days into a trial between the tech giant and the FTC. Under the terms of the settlement, Amazon will be required to pay a $1 billion civil penalty, provide $1.5 billion in refunds to consumers, and cease any unlawful enrollment and cancellation practices for Prime.The settlement figure is less than 1% of Amazo ...