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How will Amazon's stock price change by August 31, 2024, following the CPSC ruling?
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CPSC Rules Amazon Responsible for Hazardous Products, Orders Recall of 400,000 Items
Jul 30, 2024, 07:24 PM
The U.S. Consumer Product Safety Commission (CPSC) has ruled that Amazon is legally responsible for hazardous products sold by third-party sellers on its platform. This ruling mandates that Amazon must recall over 400,000 dangerous items, including hairdryers and defective carbon monoxide detectors, which were distributed and shipped by the company through its Fulfillment by Amazon program. The decision underscores Amazon's legal obligation under federal safety law to ensure product safety and manage recalls, even for items sold by third parties.
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