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

A new U.S. bill will impose higher liability from Amazon.com Inc (NASDAQ:AMZN) and eBay Inc’s (NASDAQ:EBAY) e-commerce platforms for the hazardous counterfeit sale of health risk products like exploding Apple Inc (NASDAQ: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.

Benzinga