Amazon.com, Inc (NASDAQ:AMZN) lawsuit has become somewhat of a famous event. The reason behind the lawsuit is due to a counterfeit hover board, which resulted in burning down the family’s home. Amazon was amongst nine other defendants that the Fox family is suing.
The total value of what the family is suing accumulates to $30 million. Part of which, Amazon will be liable for a total of $1 million. However, the family has also appealed with the jury to consider the financial penalties that this event will lead to for the family.
The family purchased the product from the Amazon retail store, however, they were not given the product that they expected. The product that the family ordered was a hover board, which was equipped with a Samsung Electronics Co Ltd lithium iron battery. However, the product that they received was a fake, from an organization that does not exist. This is the reason for the Amazon lawsuit
Further details on the Amazon lawsuit
The lawyer for the family, Steven Anderson stated, “The Foxe’s contend that Amazon and its various subsidiaries had information about the danger of this product well in advance of the fire that took place on January 9.”
Despite investigations into the organization responsible for selling this product through Amazon vendors, an insignificant amount of information has been uncovered. Anderson explained that despite all of their investigation, they only managed to uncover that the product was sold via a retailer called “W-Deals” on the Amazon website.
However, Anderson went on to explain that more than that, they only know that the “W-Deals” seller account is linked to a house that is based in New York City. However, the seller has not responded to any requests from Lawyers concerning this matter. Furthermore, there still remains uncertainty from both the lawyers, as well as Amazon to who manufactured this product.
Further information on hover boards and their chances to catch on fire
Hoverboards are somewhat of a novelty for the public. Due to this, the product received a wide growth in the amount of sales per annum. However, after the several incidents that involved hover boards catching on fire, the company decided to remove the product from its online store. This was prior to the incident resulting in the Amazon lawsuit.
Amazon stock last traded at $776.32, after falling by $42.04 or 5.14%