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Zillow is facing another lawsuit stemming from its February 2025 deal with fellow apartment listing giant Redfin, this time from a disgruntled investor.
Matt Breidert filed a class-action suit against Zillow, the company's CEO, Jeremy Wacksman, and its CFO, Jeremy Hofmann, alleging that he and other investors were misled about the nature of Zillow's deal with Redfin, per the June 9 complaint filed in the U.S. District Court, Western District of Washington. Rather than a partnership, he claims the move was "an anticompetitive acquisition that placed Zillow at materially heightened regulatory risk."
After the deal drew the ire of the Federal Trade Commission and five state attorneys general last fall, Zillow continued to downplay its legal exposure, Breidert alleges, and Zillow's statements about its business, operations and prospects "were materially false and misleading." Breidert said he purchased Zillow's stock at artificially inflated prices and would not have bought it at that price if he had more information, if at all.
The lawsuit, ****** led Breidert v. Zillow Group, Inc., et al., was filed on behalf of those who bought Zillow class A or class C common stock between Feb. 11, 2025, and May 7, 2026, per the complaint. Breidert said he suffered damages as a result of Zillow's alleged securities laws violations and wants to recover them. He is asking for a jury trial.
Zillow is facing another lawsuit stemming from its February 2025 deal with fellow apartment listing giant Redfin, this time from a disgruntled investor.
Matt Breidert filed a class-action suit against Zillow, the company's CEO, Jeremy Wacksman, and its CFO, Jeremy Hofmann, alleging that he and other investors were misled about the nature of Zillow's deal with Redfin, per the June 9 complaint filed in the U.S. District Court, Western District of Washington. Rather than a partnership, he claims the move was "an anticompetitive acquisition that placed Zillow at materially heightened regulatory risk."
After the deal drew the ire of the Federal Trade Commission and five state attorneys general last fall, Zillow continued to downplay its legal exposure, Breidert alleges, and Zillow's statements about its business, operations and prospects "were materially false and misleading." Breidert said he purchased Zillow's stock at artificially inflated prices and would not have bought it at that price if he had more information, if at all.
The lawsuit, ****** led Breidert v. Zillow Group, Inc., et al., was filed on behalf of those who bought Zillow class A or class C common stock between Feb. 11, 2025, and May 7, 2026, per the complaint. Breidert said he suffered damages as a result of Zillow's alleged securities laws violations and wants to recover them. He is asking for a jury trial.
2 months ago
