Levi & Korsinsky Notifies Investors with Losses on Their Investment in Zillow, Inc. of Class Action Lawsuit and the Deadline of

  Levi & Korsinsky Notifies Investors with Losses on Their Investment in
  Zillow, Inc. of Class Action Lawsuit and the Deadline of January 28, 2013 to
  Seek a Lead Plaintiff Position

Business Wire

NEW YORK -- January 17, 2013

Levi & Korsinsky announces that a class action lawsuit has been commenced in
the USDC for the Western District of Washington on behalf of investors who
acquired Zillow, Inc. (“Zillow” or “the Company”) (Nasdaq: Z) stock between
February 15, 2012 and November 6, 2012.

For more information, click here: http://zlk.9nl.com/zillow-z/.

The complaint alleges that defendants concealed the difficulties Zillow was
having signing up new real estate agents as subscribers and the churn it was
experiencing in existing subscribers. As a result, Zillow’s stock traded at
artificially inflated prices during which time Company insiders sold more than
3 million shares of their own Zillow stock for nearly $115 million. The
Company then raised $156 million through a follow-on offering in September
2012 just thirty days after assuring investors that the filing of a Form S-3
Registration Statement was not intended for a follow-on offering.

Then on November 5, 2012, Zillow issued a press release announcing its third
quarter 2012 financial results and reducing its fourth quarter and full year
2012 revenue guidance that fell below analysts’ estimates. Furthermore, Zillow
announced that it had lost a large display advertiser, Foreclosure.com, and
therefore defendants expected weakness in the Company’s display advertising
business. These disclosures caused Zillow stock to fall $6.22 per share to
close at $28.15 per share on November 6, 2012.

If you suffered a loss in Zillow you have until January 28, 2013  to request
that the Court appoint you as lead plaintiff. Your ability to share in any
recovery doesn’t require that you serve as a lead plaintiff. To obtain
additional information, contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (877) 363-5972, or visit
http://zlk.9nl.com/zillow-z/.

Levi & Korsinsky is a national firm with offices in New York and Washington
D.C. The firm has extensive expertise in prosecuting securities litigation
involving financial fraud, representing investors throughout the nation in
securities and shareholder lawsuits. Attorney advertising. Prior results do
not guarantee similar outcomes.

Contact:

Levi & Korsinsky, LLP
Joseph Levi, Esq., 212-363-7500
Toll Free: 877-363-5972
Fax: 866-367-6510
www.zlk.com
 
Press spacebar to pause and continue. Press esc to stop.