Amazon to pay shoppers hurt by others’ products, does not admit liability

Amazon Stock Price

Amazon to pay shoppers hurt by others’ products, does not admit liability

Amazon.com Inc (NASDAQ:AMZN) is trading down 0.09% at 3341.87

Amazon.com Inc (NASDAQ: AMZN) on Tuesday said it would pay customers who suffer injuries or property damage from defective goods others sell on its U.S. platform, in a new policy that could reduce litigation.

For years, consumers have sued the world’s largest online retailer, arguing it is liable when a merchant sells bad products on Amazon.com. A woman in Pennsylvania, for instance, in 2016 sought to blame Amazon for a merchant’s retractable dog leash that blinded her eye when it snapped.

Amazon maintains that sellers themselves are responsible, and most courts have ruled in its favour. A state appellate court in California, however, last year said it could be liable for goods it stores and ships via its Fulfilment by Amazon program.

Effective Sept. 1, Amazon will pay valid claims of up to $1,000, which make up more than 80% of injury and damage cases on its platform, at no cost to sellers, and it may step in with more help if sellers are unresponsive, the company said. The policy “better protects Amazon customers and sellers,” it said.

On technical fronts Amazon.com Inc (NASDAQ: AMZN) RSI stood at 36.11 and currently stock is trading below all Moving Average. So, the SELL position can be taken with the following target and stoploss:

TRADE SIGNAL – : Amazon.com Inc (NASDAQ:AMZN) – SELL: 3341.87, TARGET: 3274.88, STOP LOSS : 3437.11

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