PR Newswire | Dec 1, 2021 05:59PM EST

Action Lawsuit Against Zillow Group, Inc. - Z, ZG

12/01 16:58 CST

CLAIMSFILER ALERTS ZILLOW GROUP Investors to Lead Plaintiff Deadline in Class Action Lawsuit Against Zillow Group, Inc. - Z, ZG NEW ORLEANS, La., Dec. 1, 2021

NEW ORLEANS, La., Dec. 1, 2021 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors with losses in excess of $100,000 that they have untilJanuary 18, 2022 to file lead plaintiff applications in a securities class action lawsuit against Zillow Group, Inc. (NasdaqGS: Z, ZG), if they purchased the Company's securities between February 10, 2021 and November 2, 2021, inclusive (the "Class Period"). This action is pending in the United States District Court for the Western District of Washington.

Get Help

Zillow investors should visit us at https://claimsfiler.com/cases/nasdaq-z-1/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.

About the Lawsuit

Zillow and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On November 2, 2021, the Company disclosed that it would wind-down its homebuying and selling business, Zillow Offers, because "the unpredictability in forecasting home prices far exceeds what we anticipated and continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility," as well as a workforce reduction of 25%, and a write-down of inventory of approximately $304 million, among other things.

On this news, Zillow's shares plummeted $19.62 or 23% to close at $65.86 per share on November 3, 2021, on unusually heavy trading volume, while Zillow's Class C share price fell $21.73, or 25%, to close at $65.47 per share on November 3, 2021, on unusually heavy trading volume.

The case is Barua v. Zillow Group, Inc., et al., 21-cv-01551.

About ClaimsFiler

ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.

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SOURCE ClaimsFiler