Global eCommerce giant Amazon (NASDAQ:AMZN) is challenging the European Union’s online content rules in a General Court in Luxembourg, according to Reuters.
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The E.U. had included Amazon in a group of 19 companies under the rules and its move comes fresh on the heels of retailer Zalando suing the European commission over similar concerns. The Digital Services Act (DSA) necessitates these companies to make more efforts over taming illegal online content.
Amazon, on its part, noted that if it comes under the Very Large Online Platform tag but not other big European names in retail then this would be unfair to the company.
Now, the online delivery behemoth is requesting the court to annul this designation and what happens next remains to be seen.
Overall, the Street has a $141.37 consensus price target on Amazon alongside a Strong Buy consensus rating. Shares of the company have jumped nearly 43% over the past six months.
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