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Zillow Agrees to $212.5 Million Settlement in Shareholder Lawsuit

3 reports, 1 independent Updated Thu 00:00
No new developments lately Reached 3 outlets in its first 24 hours
Reports
3
Developments
1
Repetition
67%

New informationRepeats or wire copies

AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

Zillow agreed to pay $212.5 million in cash to settle a class action lawsuit. The lawsuit accused the online real estate marketplace of misleading shareholders regarding its failed Zillow Offers home-flipping venture. Zillow did not admit wrongdoing in agreeing to the settlement, which requires judicial approval. The lawsuit began after Zillow's stock price fell 32% in November 2021.

From 933thedrive.com

Why it matters

Some supportBrind's analysis of the reports

The settlement represents a significant cash outflow for Zillow related to the failure of Zillow Offers. The decline in Zillow's stock price in 2021 followed the company's decision to close Zillow Offers, take a $304 million writedown, and lay off 25% of its workforce.

From 933thedrive.com

Who's involved

  • ZillowOnline real estate marketplace facing the class action lawsuit and settlement.
  • Steve BermanLawyer representing the shareholders in the class action lawsuit.

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The entities involved

Coverage

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