SAN DIEGO, Jan. 9, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a deadline to get actively involved is coming up on January 28, 2013 in the lawsuit filed on behalf of certain investors in shares of Zillow, Inc (Z) over alleged Violations of Federal Securities Laws by Zillow, Inc in connection with certain allegedly false and misleading statements concerning Zillow's subscribers.
If you purchased a significant amount of Zillow shares between February 15, 2012 and November 6, 2012, you have certain options and you should contact the Shareholders Foundation, Inc. by e-mail at email@example.com or call +1 (858) 779-1554.
The plaintiff alleges that between February 15, 2012 and November 6, 2012, Zillow Inc and certain of its executive officers and/or directors allegedly failed to disclose that Zillow Inc was having problems signing up new real estate agents as subscribers, in addition to the declining number of existing subscribers, or "churn," that Zillow Inc was experiencing. Furthermore, the plaintiff claims that between February 15, 2012 and November 6, 2012, while Zillow shares were trading at artificially inflated prices, certain Company insiders sold more than three million shares of their own Zillow stock, garnering nearly $115 million of proceeds.
Then on November 5, 2012, Zillow Inc reported its third quarter 2012 results. Among other things, Zillow Inc also reduced its guidance for the fourth quarter and FY 2012.
Shares of Zillow Inc declined from as high as $38.20 on November 2, 2012 to as low as $23.05 per share on November 16, 2012.
Those who purchased Zillow shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at firstname.lastname@example.org or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
The Shareholders Foundation, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6931
CONTACT: Shareholders Foundation, Inc. Trevor Allen +1 (858) 779-1554 email@example.com 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
Source:Shareholders Foundation, Inc.