Nov. 9, 2012 (Shareholders Foundation) -- An investigation on behalf of investors of Zillow Inc (NASDAQ:Z) shares over potential securities laws violations by Zillow Inc and certain of its directors and officers in connection certain financial statements was announced .

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Zillow Inc (NASDAQ:Z) concerning whether a series of statements by Zillow Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Zillow Inc (NASDAQ:Z) reported that its annual Revenue rose from $10.59 million in 2008 to $66.05 million in 2011 and its Net Loss of $21.22 million in 2008 turned into a Net Income of $1.10 million in 2011.

Shares of Zillow Inc (NASDAQ:Z) rose from $23.00 per share in early Janaury 2012 to as high as $46.29 per share on September 20, 2012.

Then on November 5, 2012, Zillow Inc (NASDAQ:Z) announced reported its third quarter 2012 results. Among other things, Zillow Inc also issued its guidance for the fourth quarter and FY 2012.

Shares of Zillow Inc (NASDAQ:Z) declined from as high as $38.20 on November 2, 2012 to as low as $24.90 per share on November 9, 2012.