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Z, OWLT & DNA – Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Actions

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NEW YORK, Dec. 21, 2021 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Zillow Group, Inc. (NASDAQ: Z; ZG)
Class Period: February 10, 2021 - November 2, 2021,
Deadline: January 17, 2022
For more info: www.bgandg.com/z.
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) that, despite operational improvements, the Company experienced significant unpredictability in forecasting home prices for its Zillow Offers business; (2) that such unpredictability, as well as labor and supply shortages, led to a backlog of inventory; (3) that, as a result of the foregoing, the Company was reasonably likely to wind-down its Zillow Offers business, which would have a material adverse impact on its financial results; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Owlet, Inc. (NYSE: OWLT)
Class Period: (1) purchased or otherwise acquired Owlet between March 31, 2021, and October 4, 2021, inclusive (the “Class Period”); and/or (2) held Sandbridge common stock held as of June 1, 2021, and were eligible to vote at Sandbridge’s special meeting on July 14, 2021. Deadline: January 17, 2022
For more info: www.bgandg.com/owlt.
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) that Owlet was reasonably likely to be required to obtain marketing authorization for the Smart Sock because the FDA concluded it was a medical device; (2) that, as a result, Owlet was reasonably likely to cease commercial distribution of the Smart Sock in the U.S. until it obtained the requisite approval; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Ginkgo Bioworks Holdings Inc. (f/k/a Soaring Eagle Acquisition Corp.) (NYSE: DNA; SRNG)
Class Period: May 11, 2021 - October 5, 2021
Deadline: January 18, 2022
For more info: www.bgandg.com/dna.
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company's failure to derive real revenue from third-party customers left it almost completely dependent on related parties; (2) as a result, most, if not all, of the Company's revenue came from related parties the Company created, funded, or controlled through its ownership and board seats; (3) the Company was misclassifying and underreporting related party revenue in order to conceal the Company's near total-dependence on related parties; (4) many of the Company's new R&D partners are undisclosed related parties and/or façades; (5) as a result, the Company's valuation was significant less than Defendants disclosed to investors; and (6) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | info@bgandg.com