An investor in Zillow, Inc. (NASDAQ:Z) stock is alleging that some of the company’s executives made untrue and inaccurate statements about the company. Because of this, the investor has filed a lawsuit against the company in the U.S. District Court for the Western District of Washington. In the lawsuit, the plaintiff alleges that the company is in violation of the federal government’s securities laws.
If you have purchased shares of Zillow Inc (NASDAQ:Z) between February 15, 2012 and November 6, 2012, call 1-800-934-2921 right now to protect your rights.
Filing deadline: 01/28/2013
Everyone who purchased Zillow, Inc. (NASDAQ:Z) stock between the dates of February 15, 2012 and November 6, 2012 is a part of the lawsuit along with the plaintiff. What the plaintiff is alleging is that some of the officers and directors of Zillow, Inc. broke the laws outlined in the Securities Exchange Act of 1934 between the dates of February 15, 2012 and November 6, 2012 by making statements that were untrue and inaccurate. The statements in question were regarding how the executives were running the company and the company’s financial results.
Apparently, the company was experiencing a hardship in signing up new real estate agents to be subscribers. It was also having difficulties with its current subscriber base. However, the plaintiff is alleging that Zillow, Inc. executives hid these concerns from the public by making the untrue statements. Because of this deception, the investor is alleging that those who invested in the company’s stock were trading at artificially inflated prices between the dates of February 15, 2012 and November 6, 2012. On September 20, 2012, Zillow, Inc. (NASDAQ:Z) stock reached a high of $46.17 a share.
Zillow, Inc. released the results for the company’s third quarter on November 5, 2012. On this date, the company also released the company’s guidance for the fourth quarter and the fiscal year 2012 as well as other information relating to the company.
On November 2, 2012, NASDAQ:Z stock reached a high of $38.20 a share. However, on November 15, 2012, the stock price had fallen to as low as $23.36 a share.
The price began climbing again during the last half of November and closed at $26.28 a share on November 29, 2012.
Own shares of Zillow Inc (NASDAQ:Z)? Contact us to protect your rights.
If you have purchased shares of Zillow Inc (NASDAQ:Z) between February 15, 2012 and November 6, 2012, call 1-800-934-2921 right now to protect your rights. Complete the form on this page or call attorney Bill Kyros at 1-800-934-2921 right now to protect your rights.
