LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Zillow Group, Inc. (“Zillow” or the “Company”) (NASDAQ: Z) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On November 2, 2021, Zillow announced that it was winding down Zillow Offers, a service in which Zillow acts as the primary purchaser and seller of homes, because of the unpredictability in forecasting home prices, and “continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility.” Zillow also announced that the wind-down “will include a reduction of Zillow's workforce by approximately 25%.”
On this news, Zillow’s share price fell approximately 25% during intraday trading on November 3, 2021, thereby injuring investors.
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If you purchased Zillow securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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