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

If you purchased a significant amount of shares of Zillow Group, Inc. (NASDAQ:Z) between February 12, 2016 and August 8, 2017, and / or if you purchased any NASDAQ:Z shares prior to February 2016 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: October 23, 2017. NASDAQ:Z investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Zillow
Case Name: 
Zillow Shareholder Class Action Lawsuit 08/22/2017
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: Z
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
08/22/2017
Class Period Begin: 
02/12/2016
Class Period End: 
08/08/2017
Court of Filing: 
U.S. District Court for the Central District of California
Deadline To File for Lead: 
10/23/2017
Summary: 

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.