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

By Jody Godoy and Greg Bensinger (Reuters) -Amazon.com will pay 2.5billioninfinesandreimbursementstoPrimesubscriberstosettletheFederalTradeCommissionsallegationsthatitdeceiveditscustomerstogeneratesubscriptions,theFTCsaidonThursday.WhileawinforconsumersandtheFTC,thesettlementisrelativelypainlessforAmazon:thecompanytakesinaround2.5 billion in fines and reimbursements to Prime subscribers to settle the Federal Trade Commission's allegations that it deceived its customers to generate subscriptions, the FTC 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 w ...