SEC probes Amazon over the use of sellers’ data for private labels-WSJ

The Securities and Exchange Commission is investigating how Amazon is handling disclosures of its employee’s use of data from sellers on its e-commerce platform. According to the Wall Street Journal, the SEC Enforcement Division has requested emails and communications from several senior Amazon executives. The Journal investigation revealed that employees routinely used individual third-party seller data to develop products for the company’s own brands. The SEC regulates how public companies communicate with investors. So far, no SEC findings on the matter have been issued but the investigation is ensuing.

Jeffrey A. Newman, a former criminal prosecutor is a whistleblower lawyer at Newman & Shapiro a nationwide law firm. He handles SEC and CFTC matters as well as False Claims Act Qui Tam matters and frequently comments on SEC investigative trends in worldwide business matters including cryptocurrency companies. He can be reached at 978-880-4758 or at jnewman@newmanshapiro.com