BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf of Zillow Group, Inc. (“Zillow” or the “Company”) (NASDAQ: Z, ZG) investors concerning the Company’s possible violations of the federal securities laws.
On November 2, 2021, Zillow announced that it was winding down Zillow Offers, a service in which Zillow acts as the primary purchaser and seller of homes, because of the unpredictability in forecasting home prices, and “continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility.” Zillow also announced that the wind-down “will include a reduction of Zillow's workforce by approximately 25%.”
On this news, Zillow’s Class A share price fell $19.62, or 23%, to close at $65.86 per share on November 3, 2021, thereby injuring investors. Zillow’s Class C share price fell $21.73, or 25%, to close at $65.47 per share on November 3, 2021, thereby injuring investors.
If you purchased Zillow securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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