Recent Security Class Actions

The Complaint alleges that, throughout the Class Period, Defendants made numerous false and misleading statements to investors concerning Amazon’s continued investments in expanding infrastructure and fulfillment network capacity. Specifically, the Complaint alleges Defendants repeatedly assured investors that the Company’s infrastructure and fulfillment investments were driven not just by recent increased demand related to the pandemic, but also “long-term trends” and “strong multiyear demand,” while in reality, the Defendants knew or recklessly disregarded that the Company’s infrastructure and fulfillment network investments substantially outpaced demand, and that those investments were a massive, self-imposed, undue drain on Amazon’s financial condition.