Amazon.Com Inc. (AMZN)

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  • Change Today:
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  • 52 Week High: $238.35
  • 52 Week Low: $157.40
  • Currency: US Dollars
  • Shares Issued: 10,593m
  • Volume: 61,511
  • Market Cap: $2,189,044m
  • RiskGrade: 130

Italian watchdog fines BAT and Amazon combined €7m

By Abigail Townsend

Date: Wednesday 14 Feb 2024

LONDON (ShareCast) - (Sharecast News) - British American Tobacco and Amazon have been fined a total of €7m by Italy's competition watchdog over "misleading" advertising.


The Italian Competition Authority (AGCM) fined BAT Italia €6m and Amazon €1m after an investigation flagged failings in their advertising for Glo Hyper X2 and Glo Hyper Air heated tobacco products.

The AGCM found that both companies had failed to provide sufficient information about nicotine content and corresponding health risks, with the products presented instead as "simple electronic devices".

It continued: "This is seriously misleading conduct that leads consumers to purchase a product that poses health risks and is prohibited for minors."

Both BAT and Amazon plan to appeal, it was reported.

An Amazon spokesman told Reuters: "The description of our products includes references to age restrictions and health-related risks.

"We have worked closely with the AGCM throughout this case and we've made this information even clearer for customers to address the authority's concerns."

A BAT Italia spokesperson told Dow Jones: "We are clear that our products are for adults only and we adhere to the highest standards of conduct to prevent underage use of any nicotine products.

"We cooperated with the Italian authorities and implemented all suggested changes to our marketing immediately."

The investigation was first opened in April 2023.

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Note 2: RiskGrade figures are provided by RiskMetrics.

 

Amazon.Com Inc. Market Data

Currency US Dollars
Share Price $ 206.65
Change Today $ 1.64
% Change 0.80 %
52 Week High $238.35
52 Week Low $157.40
Volume 61,511
Shares Issued 10,593m
Market Cap $2,189,044m
RiskGrade 130

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