Zillow Alert: Shareholder Class Action Survives in Part Motion to Dismiss; Should Management be Held Accountable for Shareholder Losses? Contact Johnson Fistel
Johnson Fistel, LLP is investigating potential claims on behalf of Zillow Group, Inc. (NASDAQ: Z, ZG) against certain of its officers and directors.
If you are a current, long-term shareholder of Zillow holding shares before August 7, 2020, you may have standing to hold Zillow harmless from the alleged harm caused by the Company’s officers and directors by making them personally responsible. You may also be able to assist in reforming the Company’s corporate governance to prevent future wrongdoing. You can submit your information below to join this action:
Recently the court denied in part the defendant’s motion to dismiss a shareholder class action lawsuit pending against Zillow and certain of its officers. The Zillow class action lawsuit alleges that, throughout the Class Period, the defendants made false and misleading statements and failed to disclose that: (i) despite operational improvements, Zillow experienced significant unpredictability in forecasting home prices for its Zillow Offers business; (ii) such unpredictability, as well as labor and supply shortages, led to a backlog of inventory; (iii) 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 (iv) consequently, defendants’ positive statements about Zillow’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you are interested in learning more about the investigation, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471