Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The
Class Action Lawsuit Against Zillow, Inc.
BENSALEM, Pa. -- January 26, 2013
Law Offices of Howard G. Smith announces that investors of Zillow, Inc.
(“Zillow” or the “Company”) (NASDAQ:Z) 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”).
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 Class described above, you have certain rights, and
have until January 28, 2013 to move for lead plaintiff status. To be a member
of the class you need not take any action at this time, or may retain counsel
of your choice. If you wish to discuss this action or learn more concerning
your rights or interests with respect to these matters, please contact Howard
G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite
112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to firstname.lastname@example.org, or visit our
website at http://www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
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