LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the October 23, 2017 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Zillow Group, Inc. (“Zillow” or the “Company”) (NASDAQ: Z) securities between February 12, 2016 and August 8, 2017, inclusive (the “Class Period”). Zillow investors have until October 23, 2017 to file a lead plaintiff motion. To obtain information or participate in the class action, please visit the Zillow case page on our website at www.glancylaw.com/case/zillow-group-inc-0.
Investors suffering losses on their Zillow investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.
On May 17, 2017, Susquehana litigation analyst Thomas Claps reported that the U.S. Consumer Financial Protection Bureau investigation into Zillow would likely lead to “some fine and conduct-based restrictions” against the Company’s current co-marketing program, which could “limit Zillow’s ability to generate co-marketing revenues.”
On this news shares of Zillow fell $3.02 per share, or over 6%, to close on May 17, 2017 at $41.37 per share, thereby damaging investors.
The complaint filed in this class action alleges that throughout the Class Period, the Company issued materially false and misleading statements and/or failed to disclose adverse information regarding Zillow's business and outlook, including legal issues with the Company’s co-marketing scheme. Specifically the complaint alleges that: (1) Zillow’s co-marketing program did not comply with the Real Estate Settlement Procedures Act; and (2) as a result, Zillow’s public statements were materially false and misleading at all relevant times.
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If you purchased shares of Zillow during the Class Period you may move the Court no later than October 23, 2017 to ask the Court to appoint you as lead. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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