Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Zillow Group, Inc. (“Zillow” or the “Company”) (NASDAQ: ZG; Z) securities between August 5, 2021 and November 2, 2021, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made false and misleading statements and failed to disclose that: (1) despite operational improvements, Zillow experienced significant unpredictability in forecasting home prices for its Zillow Offers business; (2) such unpredictability, as well as labor and supply shortages, led to a backlog of inventory; (3) as a result, Zillow was reasonably likely to wind down its Zillow Offers business, which would have a material adverse impact on its financial results; and (4) consequently, Defendants’ positive statements about Zillow’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On October 24, 2024, Defendants appealed the Class Certification Order. The District Court action is currently stayed while the appeal is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1435; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.