An investigation on behalf of current long term investors in Zillow Inc (NASDAQ:Z) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:Z stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/17/2013 -- An investigation on behalf of long-term investors, who currently hold shares Zillow Inc (NASDAQ:Z) was announced concerning whether certain directors and officers of Zillow breached their fiduciary duties and caused damage to Zillow and its shareholders.
Investors who are current long term investors in Zillow Inc (NASDAQ:Z) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in Zillow Inc (NASDAQ:Z) stocks follows a lawsuit that is pending against Zillow Inc over alleged securities laws violations.
The investigation on behalf of current long term investors in NASDAQ:Z stocks, concerns whether certain Zillow officers and directors are liable in connection with the allegations made in that lawsuit. According to that complaint filed in the U.S. District Court for the Western District of Washington the plaintiff alleges that Zillow Inc violated the Securities Exchange Act of 1934 by issuing between February 15, 2012 and November 6, 2012allegedly materially false and misleading statements regarding the Company's business practices and financial results.
More specifically, the plaintiff alleges that defendants allegedly concealed the difficulties Zillow Inc. was having signing up new real estate agents as subscribers and the churn it was experiencing in existing subscribers, and that as a result of defendants' allegedly false statements, Zillow's stock traded at allegedly inflated prices between February 15, 2012 and November 6, 2012.
On December 16, 2013, NASDAQ:Z shares closed at $77.04 per share.
Those who purchased shares of Zillow Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego