(Z) Alert: Contact Johnson Fistel Regarding Zillow Investigation

Johnson Fistel, LLP

Fri, Nov 5, 2021, 8:44 AM2 min read

In this article:

SAN DIEGO, Nov. 05, 2021 (GLOBE NEWSWIRE) -- Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against Zillow Group, Inc. ("Zillow" or the "Company") (NASDAQ: Z) for violations of federal securities laws.

On November 2, 2021, Zillow reported third-quarter 2021 financial results. The statement disclosed that the Company is reducing its workforce by approximately 25% and plans to take $569 million in write-downs. Additionally, Zillow states, "[i]ncluded in the company's third-quarter financial results is a write-down of inventory of approximately $304 million within the Homes segment as a result of purchasing homes in Q3 at higher prices than the company's current estimates of future selling prices" and "[t]he company further expects an additional $240 million to $265 million of losses to be recognized in Q4 primarily on homes it expects to purchase in Q4."

Following this news, Zillow's stock price plummeted over the subsequent two trading sessions.

If you have information that could assist in this investigation, including past employees and others, or if you are a Zillow shareholder and are interested in learning more about the investigation, please contact Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.

Additionally, you can [Click here to join this action]. There is no cost or obligation to you.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com

[Click here to join this action]

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(Z) Alert: Contact Johnson Fistel Regarding Zillow Investigation

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