Bernstein Liebhard, a national investor rights law firm, recently released a statement regarding the class-action lawsuit against Zillow, reminding those who purchased or acquired securities of Zillow Group, Inc. between Feb. 10, 2021 and Nov. 2, 2021 that the deadline to file a lead plaintiff motion is Jan 18. 2022.
The lawsuit alleges that Zillow “made false and/or misleading statements” and failed to disclose several items:
- Despite operational improvements, Zillow experienced significant unpredictability in forecasting home prices for its Zillow Offers business.
- Such unpredictability, as well as labor and supply shortages, led to a backlog of inventory.
- As a result, the company was reasonably likely to wind-down its Zillow Offers business, which would have a material adverse impact on its financial results.
Source: Bernstein Liebhard