According to Politico on Wednesday, the Federal Trade Commission (FTC) is in the process of completing its much-anticipated antitrust lawsuit against Amazon (NASDAQ:AMZN), which could potentially lead to the break up of parts of the company.
Citing four sources familiar with the situation, the publication said the commission has been investigating the company on several fronts, with the case potentially one of the most aggressive and high-profile moves by the Biden administration to reign in the power of tech giants.
Amazon shares are down over 1% premarket.
It is said that the lawsuit is expected as soon as August and will probably challenge various Amazon business practices.
Politico went as far as saying that, if successful, it could result in a court-ordered restructuring of the $1.3 trillion powerhouse, defining the legacy of FTC Chair Lina Khan.
However, they noted that while they know the FTC has focused on several of Amazon's business practices, the exact details of the final lawsuit aren't known, and it is expected that there will be changes to the final complaint until the eleventh hour.
The publication said sources told them the complaint would focus on challenges to Amazon Prime, Amazon's rules that the FTC says obstruct lower prices on competing websites, and policies they believe force merchants to use Amazon’s logistics and advertising services.