GlobeNewswire Inc | Nov 17, 2021 04:08PM EST

November 17, 2021

NEW YORK, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against of Zillow Group, Inc. (Zillow or the Company) (NASDAQ: Z) in the United States District Court for the Western District of Washington on behalf of those who purchased Zillow common stock between February 10, 2021, and November 2, 2021, inclusive (the Class Period).

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) despite operational improvements, the Company 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 of the foregoing, the Company was reasonably likely to wind-down its Zillow Offers business, which would have a material adverse impact on its financial results; and (4) as a result of the foregoing, Defendants positive statements about the Companys business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Investors who purchased or otherwise acquired shares of Zillow during the Class Period should contact the Firm prior to the January 17, 2022 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.