Glancy Prongay & Murray LLP (“GPM”) announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Zillow Group, Inc. (“Zillow” or the “Company”) (NASDAQ: Z, ZG).
If you wish to serve as lead plaintiff of the Zillow lawsuit, you can submit your contact information at www.glancylaw.com. The contact for this case is Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors:
- (1) that the Company experienced significant unpredictability in forecasting home prices for its Zillow Offers business;
- (2) this unpredictability on top of labor and supply shortages, led to a backlog of inventory;
- (3) based on this information, the Company was reasonably likely to wind-down its Zillow Offers business, which would have a material adverse impact on its financial results; and
- (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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To be a member of the class action, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.
For more information about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan.
If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
This article was originally sourced by www.stockhouse.com.
