Amazon Wins Tariff Evasion Appeal as Shares Rise Toward $265

As of May 22, 2026, Amazon faces an ongoing Seattle consumer class action over alleged retention of hundreds of millions in IEEPA tariff costs while celebrating a key legal victory. The May 20 Second Circuit ruling upheld dismissal of a 2007-2024 whistleblower suit alleging Amazon aided tariff evasion, finding no evidence of knowing involvement. This followed a May 15 proposed class action claiming Amazon raised prices 5.2% on 1,200 items after the Supreme Court invalidated the duties in a 6-3 February decision, contrasting with Walmart's nearly 2% cuts. An earlier May 11 Fire TV Stick lawsuit added separate reputational risks. Shares traded near $264-$265 amid the mixed updates.