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Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In Class Action Lawsuit Against Zillow Inc

Saturday, 26 Jan 2013 02:30pm EST 

Law Offices of Howard G. Smith announced that investors of Zillow, Inc. (Zillow or the Company) have until January 28, 2013 to move the Court to serve as lead plaintiff in the securities fraud class action lawsuit 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 securities of Zillow between February 15, 2012 and November 6, 2012, inclusive (the Class Period). 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. 

Company Quote

-1.85 -1.54%
28 Nov 2014