Amazon shares gained 2% after appeals court dismissed whistleblower tariff suit, while AWS revenue surged 28%. A separate class action over duty refunds and hefty capex add uncertainty.
Amazon's shares climbed roughly two percent in Wednesday trading, supported by a mix of legal relief and fresh evidence that its cloud business is firing on all cylinders. The stock closed in Germany at 227.85, leaving it up 17.86% year-to-date and about 15% above its long-term moving average.
The Second US Circuit Court of Appeals upheld the dismissal of a whistleblower suit that accused Amazon of helping foreign fur merchants evade customs duties between 2007 and 2024. Judge Jose Cabranes found no proof that the company had specific knowledge of false tariff declarations by individual sellers. Lower prices on the platform, he ruled, were insufficient to demonstrate that Amazon knowingly tolerated underpayments. The decision, which keeps a January 2025 lower-court ruling intact, removes a key legal overhang for the e-commerce giant's marketplace model.
Yet the tariff issue is far from closed. A separate class action in Seattle alleges that Amazon kept hundreds of millions of dollars in duty refunds that should have gone to customers. The lawsuit stems from a Supreme Court decision in February 2026 that declared certain Trump-era tariffs unlawful. While other companies have begun refund processes, the plaintiffs claim Amazon is holding onto the money — a charge made more pointed by the fact...
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