The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Western District of Washington on behalf of investors who purchased Zillow Group, Inc. (NASDAQ: Z) securities between February 10, 2021 and November 2, 2021.
According to the Zillow lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) despite operational improvements, the Company experienced significant unpredictability in forecasting home prices for its Zillow Offers business; (2) such unpredictability, as well as labor and supply shortages, led to a backlog of inventory; (3) as a result of the foregoing, the Company was reasonably likely to wind-down its Zillow Offers business, which would have a material adverse impact on its financial results; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in Zillow you have until January 18, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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