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Zillow Group, Inc. (NASDAQ:Z) Investor Securities Class Action Lawsuit 08/22/2017

  • If you purchased shares of Zillow Group, Inc. (NASDAQ:Z), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Zillow Inc
Security
NASDAQ: Z

Case Name
Zillow Shareholder Class Action Lawsuit 08/22/2017
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Western District of Washington

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

February 22, 2021 - A proposed settlement was announced.

April 19, 2019 - The court denied the defendants' motion to dismiss.

December 17, 2018 - A motion to dismiss the second amended consolidated was filed.

February 22, 2021 - A proposed settlement was announced.

November 16, 2018 - A second amended consolidated complaint was filed.

October 2, 2018 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

April 5, 2018 - A motion to dismiss the amended consolidated complaint was filed.

February 16, 2018 - An amended consolidated complaint was filed.

November 16, 2017 - An amended complaint was filed.

November 13, 2017 - The case was transferred to the U.S. District Court for the Western District of Washington.

August 22, 2017 (Shareholders Foundation) - An investor in shares of Zillow Group, Inc. (NASDAQ:Z) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Zillow Group, Inc. in connection with certain allegedly false and misleading statements made between February 12, 2016 and August 8, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Zillow Group, Inc. (NASDAQ:Z) common shares between February 12, 2016 and August 8, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 12, 2016 and August 8, 2017, the defendants made false and/or misleading statements and/or failed to disclose that Zillow’s co-marketing program did not comply with the Real Estate Settlement Procedures Act, and that as a result, Zillow’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

In April 2017 Zillow Group, Inc received a Civil Investigative Demand from the Consumer Financial Protection Bureau (the “CFPB”).

On August 8, 2017, Zillow Group, Inc disclosed that the CFPB has concluded its investigation and has invited Zillow Group, Inc to discuss possible settlement. Zillow Group, Inc also disclosed that the CFPB intends to pursue further action if a settlement cannot be reached.

Shares of Zillow Group, Inc. (NASDAQ:Z) declined to as low as $40.06 per share on August 10, 2017.