Amazon.com Settles Shareholder Lawsuit
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Amazon.com Inc., the largest Internet retailer, agreed to pay $27.5 million to settle a shareholder lawsuit that alleges the company misled investors about its finances.
The suit accused the company, Chairman Jeff Bezos and two former executives of making false and misleading statements during a three-year span that ended in October 2001, Seattle-based Amazon.com said in a filing with the Securities and Exchange Commission.
“We continue to deny any and all liability and wrongdoing by the company and defendants,” Amazon.com spokeswoman Patty Smith said.
Shares of Amazon.com fell 16 cents to $34.75 on Nasdaq.
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