The Federal Trade Commission said on Tuesday that it would pay $2 billion to resolve antitrust lawsuits against three technology companies, including Apple Inc. and Amazon.
Com Inc., over alleged anticompetitive practices.
The cases, which were brought by a group of American companies, are the latest chapter in the history of the US antitrust system, which has been rocked by lawsuits over the past decade.
The companies named in the settlements include Adobe Systems Inc., Google Inc. , Amazon.
and eBay Inc. “We believe this settlement represents an important milestone in our fight against anticompetition and unfair business practices,” FTC Chairwoman Edith Ramirez said in a statement.
“This is a victory for consumers and businesses across the country, who will be able to choose their own quality, price and service over those of their competitors.”
The agency has a history of settling with companies accused of anticompete practices.
Last year, the FTC agreed to settle a class-action suit over allegations that Adobe and Google were unfairly limiting their online offerings.
The two companies also agreed to pay $3.3 billion to a class of consumers who sued Google over its search-engine algorithms.
The FTC also settled in a class action lawsuit against Amazon for allegedly anticompatible practices.
“Today’s settlement represents a historic and significant step forward in our ongoing fight against anti-competitive conduct and unfair practices,” Amazon said in the statement.
The US Justice Department is reviewing the FTC settlement.
“The settlement is a significant victory for consumer and business confidence in the FTC’s enforcement efforts, and we look forward to reviewing the decision,” said a Justice Department spokesperson.
The DOJ has also announced that it is reviewing its decision to sue Google in 2016, citing antitrust concerns that the company had made to lower its search prices in China.
The search giant, which had previously fought the antitrust charges, said it would reduce prices in the US.