Class action filed against Zillow for alleged Securities misrepresentation
So the genie really is out the bottle now for Zillow after its rushed shelf offering on September 6th, and the eventual publication of the SEC letters about the questions raised by the SEC with Zillow in August.
My disappointment is that the class action wasn't for Zillows incompetence in determining zestimates and its refusal to correct them when requested to do so by the homeowner. Maybe the next class action will address that issue.
Any updates following the closing date on January 28th? Looking forward to the outcome and hopefully Zillow executives will feel humbled enough whatever the outcome to take a more reasonable approach when homeowners dispute nonsense zestimates.
Their current arrogant attitude is beyond comprehension of any fair minded citizens who find Zillows imposition of zestimates on their home as unacceptable by a $1Bn Nasdaq listed company treating little people with utter disdain.