According to the law firm press release, the lawsuit alleges Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Zillow’s co-marketing program did not comply with the Real Estate Settlement Procedures Act; and (2) as a result, Zillow’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On November 13, 2017, this case was transferred to the Western District of Washington. The case continues under Docket 17-CV-01387.
On November 16, 2017, Plaintiff filed an amended Complaint. On January 5, 2018, the Court issued an Order consolidating cases and appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed a consolidated amended Complaint on February 16. On April 5, Defendants filed a Motion to Dismiss the consolidated amended Complaint. On October 2, the Court issued a ruling granting Defendants' Motion to Dismiss. Lead Plaintiffs were given leave to file an amended Complaint. On November 16, Lead Plaintiffs filed a second consolidated amended Complaint. Defendants filed a Motion to Dismiss the second consolidated amended Complaint on December 17. On April 19, 2019, the Court issued an Order denying the Motion to Dismiss.
Plaintiffs filed a Motion for Class Certification on October 11, 2019. On October 28, 2020, the Court issued an Order granting Plaintiffs' Motion for Class Certification.