Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member., Inc. (AMZN) U.K Sellers Suing RepricerExpress Over Glitch, Inc. (NASDAQ:AMZN) online marketplace was the subject of technical glitch that saw thousands of items go on sale for a penny much to the disgust of a number of sellers who incurred thousands of losses in the process. Bloomberg’s, Brad Stone, reports that some of the sellers have ganged up to pursue legal action against the losses that they incurred as a result.

Amazon, AMZN

“One penny that was the price that was listed for thousands of items on Amazon’s U.K marketplace on Friday for one hour. That was not a blockbuster holiday sale, but a technical glitch that affected sellers that are represented by an Irish company called RepricerExpress,” said Mr. Stone.

The glitch occurred between 7 and 8 pm a period when customers shopping frenzy is usually on another level according them with a field day to purchase some of their favorite items at extremely reduced prices.

The error stemmed from RepricerExpress software that most of the sellers were using to gain an advantage in terms of pricing on, Inc. (NASDAQ:AMZN)’s marketplace. The software reportedly changes the prices of items automatically to ensure retailers subscribed to the service remain competitive with similar wares online.

RepricerExpress CEO, Brendan Doherty, has already stated that investigation into the matter are underway; Amazon having stated that it cannot refund for items already shipped or those which customers had already been billed.

“Sellers lost thousands of dollars; Amazon was able to cancel some of the sales but for items that were already shipped sellers were out of luck. Some are worried that they may go out of business they are ganging altogether to get legal representation. It’s a mess, but some customers got a big deal,” said Mr. Stone.

Despite the prices of items being slashed during the period,, Inc. (NASDAQ:AMZN) price remained the same bringing to question the need of using third party software’s as a means of gaining an advantage.

Warren Buffett and BillionairesFree Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks

Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!