Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Zillow,
LOS ANGELES -- January 14, 2013
The Law Offices of Todd M. Garber announces that a class action lawsuit has
been 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
common stock of Zillow, Inc. (“Zillow” or the “Company”) (NASDAQ:Z) between
February 15, 2012 and November 6, 2012, inclusive (the “Class Period”).
Zillow provides information related to homes, real estate listings and
mortgages for homeowners, buyers, sellers, renters and real estate and
mortgage professionals in the United States. 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.
If you are a member of the above-described Class, you may move the Court no
later than January 28, 2013 to serve as lead plaintiff; however, you must meet
certain legal requirements. To be a member of the Class you need not take any
action at this time, or you may retain counsel of your choice. If you have
information or would like to learn more about these claims, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Todd M. Garber, Esquire, of the Law
Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California
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