NEW CASES

FULLY
EQUIPPED

Shareholder Class Action Filed Against Zillow Group, Inc.

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Zillow Group, Inc. (“Zillow”) (Nasdaq: Z) publicly traded securities from February 12, 2016 through August 8, 2017, both dates inclusive (the “Class Period”).

Zillow investors may receive additional information about the case by clicking the link "Join this Class Action" above.  


According to the complaint, Zillow operates real estate and home-related information marketplaces on mobile and the Web in the United States.  The company’s co-marketing program allows mortgage lenders to pay for portions of realty agents’ monthly advertising costs on Zillow websites.

The Class Period commences on February 12, 2016, when the company filed a Form 10-K for the fiscal year ended December 31, 2015 with the SEC, which provided the company’s annual financial results and position.

The complaint alleges that, on August 8, 2017, the company filed a Form 10-Q for the quarterly period ended June 30, 2017, stating in relevant part, “In April 2017, we received a Civil Investigative Demand from the Consumer Financial Protection Bureau (“CFPB”) requesting information related to our March 2017 response to the CFPB’s February 2017 Notice and Opportunity to Respond and Advise (“NORA”) letter. The NORA letter notified us that the CFPB’s Office of Enforcement was considering whether to recommend that the CFPB take legal action against us, alleging that we violated Section 8 of the Real Estate Settlement Procedures Act (“RESPA”) and Section 1036 of the Consumer Financial Protection Act (“CFPA”).”  The Form 10-Q also stated that the CFPB concluded its investigation and “invited us to discuss a possible settlement and indicated that it intends to pursue further action if those discussions do not result in a settlement.”

Following this news, shares of the Zillow fell $7.43 per share or over 15% over the next two trading days to close at $40.50 per share on August 10, 2017.

The complaint alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) the company’s co-marketing program did not comply with the Real Estate Settlement Procedures Act; and (2) as a result, the company’s public statements were materially false and misleading at all relevant times.

If you are a member of the class described above, you may no later than October 23, 2017 move the Court to serve as lead plaintiff of the class, if you so choose. 


A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com. 

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706 
Or by e-mail at info@ktmc.com

Please complete this form and list your purchase and sale transaction(s) for Zillow Group, Inc. (Nasdaq: Z) publicly traded securities from February 12, 2016 through August 8, 2017, both dates inclusive (the “Class Period”):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of Zillow Group, Inc. 2017 prior to the class period?
Are you a current or former employee of Zillow Group, Inc. 2017?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
How did you hear about this case?
Sign Up for Monthly Update: