Herman Jones LLP is Investigating Claims for Investors Who May Have Been Harmed by Zillow’s Possible False or Misleading Statements Regarding Zillow Offers
ATLANTA, GEORGIA, UNITED STATES, July 21, 2022 /EINPresswire.com/ — A lawsuit, styled Michael Blake Randolph v. Richard N. Barton, et al. (Case No. 2:22-cv-01000), was recently filed in federal court in the Western District of Washington against Zillow for violations of the Securities Act of 1934 in relation to statements regarding its Zillow Offers business. According to this Complaint, Zillow failed to make critical disclosures, including that: (i) Zillow Offers was buying homes at inflated prices to meet Zillow Offers’ volume goals; (ii) Zillow Offers was overriding its internal algorithms and pricing analysts in order to purchase homes at overinflated prices; (iii) Zillow Offers was engaging in cost-cutting measures that resulted in certain of its purchased homes not being renovated as initially intended; and (iv) Zillow was reasonably likely to wind down Zillow Offers due to these and other problems with the business, which would have a material adverse impact on Zillow’s financial results and prospects. Consequently, the Complaint maintains that Defendants’ positive statements about Zillow’s business, operations and financial outlook, including in its filings with the United States Securities and Exchange Commission and disseminated to Zillow’s stockholders, were false or misleading.
Herman Jones LLP (www.hermanjones.com) is investigating potential claims on behalf of Zillow Group Inc. (NASDAQ: Z) against certain of its officers and directors relating to the allegations set forth in the lawsuit.
IF YOU HAVE CONTINUOUSLY OWNED ZILLOW GROUP INC. SHARES SINCE AUGUST 2021 AND WOULD LIKE TO BE INVOLVED, PLEASE CONTACT HERMAN JONES LLP AT THE CONTACT INFORMATION BELOW.
IF YOU ARE A CURRENT SHAREHOLDER OF ZILLOW GROUP INC. SHARES, AND HAVE CONTINUOUSLY HELD SINCE AT LEAST AUGUST 2021, you may have standing to hold Zillow Group Inc. harmless from the alleged harm caused by the Company’s officers and directors by making them personally responsible. You may also be able to assist in reforming the Company’s corporate governance to assure compliance and prevent future wrongdoing.
IF YOU ARE INTERESTED IN LEARNING MORE ABOUT THE INVESTIGATION, PLEASE CONTACT US AT THE INFORMATION BELOW. IF EMAILING, PLEASE INCLUDE A PHONE NUMBER.
ABOUT HERMAN JONES LLP:
Herman Jones LLP (www.hermanjones.com) is a nationally recognized high stakes litigation law firm with offices in Atlanta, Newark and Seattle. Herman Jones LLP represents individual and institutional investors in shareholder derivative and securities class action lawsuits, in addition to antitrust, intellectual property, consumer class actions and venture fund transactional work. Herman Jones LLP regularly assists clients in recovering losses resulting from violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.hermanjones.com. Attorney advertising. Past results do not guarantee future outcomes.