Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of purchasers of Zillow Group, Inc. (NASDAQ: Z) (“Zillow”) securities between August 7, 2020 and November 2, 2021.
Zillow investors may receive additional information about the investigation by clicking the link "Submit Your Information" above.
Zillow, headquartered Seattle, Washington, is an online real estate marketplace company that operates real estate brands on mobile applications and websites in the United States. Zillow’s mobile applications and websites offer various real estate services, including buying, selling, renting, and financing residential properties.
On November 2, 2021, Zillow disclosed in a press release that due to volatility concerns, it planned to “wind down Zillow Offers,” one of the company’s services “in which Zillow acts as the primary purchaser and seller of homes.” Zillow indicated that they expected the closing of Zillow Offers to take several quarters to complete and stated that it “will include a reduction of Zillow’s workforce by approximately 25%.” Finally, Zillow reported that the company expected to incur “an additional $240 million to $265 million” in fourth quarter losses due to homes it anticipates purchasing in the fourth quarter.
Following this news, Zillow’s stock price fell more than 10% on November 2, 2021, and over 25% on November 3, 2021.
If you have any questions or would like to discuss this investigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com.