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Sezzle Inc. (NASDAQ:SEZL) shares are trading lower Tuesday after the company announced it filed an antitrust lawsuit against Shopify Inc. (NASDAQ:SHOP)
The Details: The company alleges that Shopify has been engaging and continues to engage in monopolistic and anticompetitive business practices in order to stifle competition for “buy now, pay later” service options on Shopify’s e-commerce platform.
Sezzle is seeking an injunction to prevent Shopify from continuing its anticompetitive conduct that limits consumer choice and stifles fair market competition.
“Sezzle remains committed to fostering a competitive, transparent, and consumer-friendly payments ecosystem,” stated Charlie Youakim, Sezzle Chairman and CEO.
“This action is an important step in ensuring that merchants and consumers have access to diverse and innovative payment solutions of their choice.”
Related Link: EXCLUSIVE: Ideal Power Taps Kaimei Electronic To Distribute Products Across Asia
SEZL Price Action: At the time of writing, Sezzle stock is trading 7.70% lower at $121.99, according to data from Benzinga Pro.
Image: This illustration was generated using artificial intelligence via Midjourney.
