Archived Investigations
Zillow Group, Inc. (NasdaqGS: ZG, Z)
Zillow and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) Zillow’s agreement with Redfin was not a “partnership,” but rather an acquisition of Redfin’s business; (ii) as a result of the Redfin Agreement, Zillow faced a materially heightened risk of regulatory scrutiny and liability under federal antitrust laws; (iii) upon the filing of an antitrust lawsuit, Zillow continued to downplay its legal exposure; and (iv) as a result, Defendants’ statements about Zillow’s business, operations, and prospects, were materially false and misleading and or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
The case is Breidert v. Zillow Group, Inc., et al., 26-cv-02016.