New Bill To Impose Counterfeit Goods Sale Liability On Amazon, eBay: Bloomberg

  • A new U.S. bill will impose higher liability from Inc AMZN and eBay Inc’s EBAY e-commerce platforms for the hazardous counterfeit sale of health risk products like exploding Apple Inc AAPL iPhone chargers or defective personal protective equipment by third-party vendors, Bloomberg reports.
  • The platforms will have to validate manufacturer identity and permanently ban serial offenders from gaining liability immunity.
  • The current law only mandates the online marketplaces to take down listings of the reported brands.
  • Republican Representative Darrell Issa sought the broadening of the bill’s scope beyond health and safety.
  • Price action: EBAY shares traded higher by 2.87% at $61.22, and AMZN shares traded lower by 0.09% at $3,227.55 on the last check Friday.
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