|[January 26, 2013]
Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Zillow, Inc.
BENSALEM, Pa. --(Business Wire)--
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 executie
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.
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