Overstock.com,a popular online merchant,was found liable in a lower court for using misleading reference prices s to e ggerate potential cus savings It was fine 6.8 million,twice the size of the next-largest penalty for false advertising in Califomia. In its appeal,Overstock said it followed"standard industry practices"to come up with its reference prices.Internet retailers including Wayfair,Walmart,Rakuten(formerly Buy com)CrateBarrel and Williams-Son employ list pric es to varying degrees Amazon,the biggest e-commerce player,uses them extensively and prominently E) If some Internet retailers have an expansive definition of list price.the Federal Trade Commission does not. To the extent that list or suggested retail prices do not in fact correspond to prices at which a substantial numb r of sale article in que made the advertisement of a reduction may mislead the consumer."the Code of Federal Regulations states.The F.TC.declined to comment. "If you're selling $15 pens for $7.50,but just about everybody else is also selling the pens for $7.50,then saying the list price is $15 is a lie,"said David C.Vladeck,the And if you're doing F All of the retailers declined to be interviewed,as did Le Creuset.Amazon pointed to a disclosure on its website where it says the list price can have many origins:It can be the price on the product itself,it can be the orice suggested by the ufacturer or suppe or it can be Amazon's guess as to what the list price should be.The retailer also said its list prices"may or may not"represent the prevailing price "in every area on any particular day." "The list price has become a meaningless piece of information,"said Mr.Compeau, who was an expert witness for the Califormia district attorneys who brought the case ess.but useful Even as the importance of afieds ck physical world,it has become more deeply embedded online. G Retailers as Amazon indicated often are supplied with list prices by the manufacturer or the brand.The it's what they wish they could charge."said Victor Rosenman,the chief executive of Feedvisor,a start-up that helps e-commerce companies price competitively "Then the retailer says to his customer,The manufacturer recommended X,but I'm selling it at Y.It's a better deal,'"Mr.Rosenman said."As to how that price compares to anyone else,it's your job as a consumer to figure out." The Overstock case went to trial in late 2013.In one example cited by the district attorneys,a man bought a patio set from the retailer.It cost him $450,a discount of 55 percent from the list price of $999.The buyer was somewhat alarmed to find a Walmart price tag on his purchase for $247,a price he confirmed was the 新烂大学英语四级全直模拟式要（九）第3页 新编大学英语四级全真模拟试题（九）第3页 Overstock.com, a popular online merchant, was found liable in a lower court for using misleading reference prices to exaggerate potential customer savings. It was fined $6.8 million, twice the size of the next-largest penalty for false advertising in California. In its appeal, Overstock said it followed “standard industry practices” to come up with its reference prices. Internet retailers including Wayfair, Walmart, Rakuten (formerly Buy.com), Crate & Barrel and Williams-Sonoma employ list prices to varying degrees. Amazon, the biggest e-commerce player, uses them extensively and prominently. E) If some Internet retailers have an expansive definition of list price, the Federal Trade Commission does not. “To the extent that list or suggested retail prices do not in fact correspond to prices at which a substantial number of sales of the article in question are made, the advertisement of a reduction may mislead the consumer,” the Code of Federal Regulations states. The F.T.C. declined to comment. “If you’re selling $15 pens for $7.50, but just about everybody else is also selling the pens for $7.50, then saying the list price is $15 is a lie,” said David C. Vladeck, the former director of the F.T.C.’s Bureau of Consumer Protection. “And if you’re doing this frequently, it’s a serious problem.” F) All of the retailers declined to be interviewed, as did Le Creuset. Amazon pointed to a disclosure on its website where it says the list price can have many origins: It can be the price on the product itself, it can be the price suggested by the manufacturer or supplier, or it can be Amazon’s guess as to what the list price should be. The retailer also said its list prices “may or may not” represent the prevailing price “in every area on any particular day.” “The list price has become a meaningless piece of information,” said Mr. Compeau, who was an expert witness for the California district attorneys who brought the case against Overstock. Meaningless, but useful. Even as the importance of a fixed list price has waned in the physical world, it has become more deeply embedded online. G) Retailers, as Amazon indicated, often are supplied with list prices by the manufacturer or the brand. “The manufacturer uses list price in an aspirational way — it’s what they wish they could charge,” said Victor Rosenman, the chief executive of Feedvisor, a start-up that helps e-commerce companies price competitively. “Then the retailer says to his customer, ‘The manufacturer recommended X, but I’m selling it at Y. It’s a better deal,’ ” Mr. Rosenman said. “As to how that price compares to anyone else, it’s your job as a consumer to figure out.” H) The Overstock case went to trial in late 2013. In one example cited by the district attorneys, a man bought a patio set from the retailer. It cost him $450, a discount of 55 percent from the list price of $999. The buyer was somewhat alarmed to find a Walmart price tag on his purchase for $247, a price he confirmed was the