Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Zillow, Inc.
The Law Offices of Todd M. Garber announces that a class action lawsuit has been filed in the United States District Court for the Western District of Washington on behalf of a class (the “Class”) comprising all purchasers of the common stock of Zillow, Inc. (“Zillow” or the “Company”) (NASDAQ: Z) between February 15, 2012 and November 6, 2012, inclusive (the “Class Period”).
Zillow provides information related to homes, real estate listings and mortgages for homeowners, buyers, sellers, renters and real estate and mortgage professionals in the United States. The Complaint alleges that throughout the Class Period the Company and certain of its executive officers and/or directors failed to disclose that Zillow was having problems signing up new real estate agents as subscribers, in addition to the declining number of existing subscribers, or “churn,” that the Company was experiencing. The Complaint further alleges that during the Class Period -- while Zillow shares were trading at artificially inflated prices -- Company insiders sold more than three million shares of their own Zillow stock, garnering nearly $115 million of proceeds.
If you are a member of the above-described Class, you may move the Court no later than January 28, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time, or you may retain counsel of your choice. If you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to firstname.lastname@example.org.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California