Amazon Investors Sue Jeff Bezos Over ‘Massive’ Losses, Expansion

Amazon.com Inc. investors sued Jeff Bezos and other senior company leaders, claiming they exposed the e-commerce giant to a “massive financial hit” through antitrust violations and breakneck expansion that had to be scaled back.

The 195-page lawsuit, filed Thursday, targets 20 members of Amazon’s board and management. It accuses them of lying about the tech giant’s practices in two major areas: its private-label business selling products in competition with third-party merchants, and the ultra-fast delivery that’s critical to the company’s identity.

While Bezos and the others were touting the success of Amazon’s private-label brands as organic and sustainable, they were ...