Investing.com – Amazon stock (NASDAQ:AMZN) traded 0.3% lower in Monday’s premarket on a report in The Wall Street Journal that members of a congressional committee want the company to answer if founder Jeff Bezos and other senior executives misled them.
At the heart of the matter are accusations that Amazon uses the data of third-party sellers on its site to copy products while creating its own private-label items and putting them at an advantage in search. The company denies the accusations.
In a letter sent to CEO Andy Jassy, five members asked the company to provide “exculpatory evidence” to corroborate the sworn testimony that several leaders provided to a subcommittee in 2019 and 2020.
The subcommittee investigated the retailer’s use of data from third-party sellers.
The members asked the company to correct the record while they consider whether a referral to the Department of Justice for a criminal investigation is appropriate, the WSJ report said.