|[January 14, 2013]
Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Zillow, Inc.
LOS ANGELES --(Business Wire)--
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 diectors 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 firstname.lastname@example.org.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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