NEW ORLEANS, LA / ACCESSWIRE / December 7, 2021 / Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have untilJanuary 18, 2022 to file lead plaintiff applications in a securities class action lawsuit against Zillow Group, Inc. (NASDAQ:ZG), if they purchased the Company's securities between February 10, 2021 and November 2, 2021, inclusive (the "Class Period"). This action is pending in the United States District Court for the Western District of Washington.
What You May Do
If you purchased securities of Zillow and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-z/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 18, 2022.
About the Lawsuit
Zillow and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 2, 2021, the Company disclosed that it would wind-down its homebuying and selling business, Zillow Offers, because "the unpredictability in forecasting home prices far exceeds what we anticipated and continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility," as well as a workforce reduction of 25%, and a write-down of inventory of approximately $304 million, among other things.
On this news, Zillow's shares plummeted $19.62 or 23% to close at $65.86 per share on November 3, 2021, on unusually heavy trading volume, while Zillow's Class C share price fell $21.73, or 25%, to close at $65.47 per share on November 3, 2021, on unusually heavy trading volume.
The case is Barua v. Zillow Group, Inc., et al., 21-cv-01551.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients - including public institutional investors, hedge funds, money managers and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE: Kahn Swick & Foti, LLC
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