NEW YORK–(BUSINESS WIRE)–Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all persons or entities who purchased or otherwise acquired Zillow Group, Inc. (NASDAQ : Z) securities between February 12, 2016 and August 8, 2017 (the “Class Period”). Investors have until October 23, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The Complaint alleges that throughout the Class Period, Zillow made false and/or misleading statements and/or failed to disclose that: (1) Zillow’s co-marketing program did not comply with the Real Estate Settlement Procedures Act; and (2) as a result, Zillow’s public statements were materially false and misleading at all relevant times.
On August 8, 2017, Zillow disclosed that the Consumer Financial Protection Bureau (“CFPB”) had concluded an investigation of the Company, and that the CFPB had invited Zillow to discuss a possible settlement. They further disclosed that the CFPB indicated that it intends to pursue further action if those discussions do not result in a settlement.
Following this news, shares of Zillow fell $7.43 per share over two trading days, or 15.5%, to close at $40.50 per share on August 10, 2017.
If you purchased or otherwise acquired Zillow securities and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Zillow lawsuit, please go to http://www.bespc.com/z. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.