BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith announces that investors of Zillow, Inc. (“Zillow” or the “Company”) (NASDAQ:Z) have until January 28, 2013 to move the Court to serve as lead plaintiff in the securities fraud class action lawsuit filed in the United States District Court for the Western District of Washington on behalf of a class (the “Class”) comprising all purchasers of the securities of Zillow between February 15, 2012 and November 6, 2012, inclusive (the “Class Period”).
Zillow provides information related to homes, real estate listings and mortgages for homeowners, buyers, sellers, renters and real estate and mortgage professionals in the United States. The Complaint alleges that throughout the Class Period the Company and certain of its executive officers and/or directors failed to disclose that Zillow was having problems signing up new real estate agents as subscribers, in addition to the declining number of existing subscribers, or “churn,” that the Company was experiencing. The Complaint further alleges that during the Class Period -- while Zillow shares were trading at artificially inflated prices -- Company insiders sold more than three million shares of their own Zillow stock, garnering nearly $115 million of proceeds.
If you are a member of the Class described above, you have certain rights, and have until January 28, 2013 to move for lead plaintiff status. To be a member of the class you need not take any action at this time, or may retain counsel of your choice. If you wish to discuss this action or learn more concerning your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
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