Amazon to pay $2.5 billion for allegedly duping millions to sign up for Prime

Amazon will pay $2.5 billion in fines and reimbursements to Prime subscribers to settle the U.S. Federal Trade Commission’s allegations that it deceived its customers to generate subscriptions, the agency said on Thursday.

While a win for consumers and the FTC, the settlement is relatively painless for Amazon: the company takes in around $2.5 billion in sales every 33 hours. Shares of Amazon were nearly unchanged after the news.

Around 35 million Prime customers will be eligible for payout from a $1.5 billion fund, the FTC said. Amazon will pay $1 billion in fines to the FTC. The company did not admit wrongdoing as part of the settlement.

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