Sezzle Inc. ( SEZL ) shares are trading lower Tuesday after the company announced it filed an antitrust lawsuit against Shopify Inc. ( SHOP )

The Details: The company alleges that Shopify ( SHOP ) 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 ( SEZL ) is seeking an injunction to prevent Shopify ( SHOP ) 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 ( SEZL ) 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.”

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SEZL Price Action: At the time of writing, Sezzle ( SEZL ) 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.