Zillow Investors Win Class Cert. In Suit Over CFPB Probe

Law360 (October 29, 2020, 3:44 PM EDT) -- A Washington federal judge on Wednesday certified a class of investors suing online real estate data company Zillow for allegedly hiding it was being investigated for its co-marketing practices, causing its stock price to drop when the truth came to light.

U.S. District Judge John C. Coughenour rejected all of Zillow's oppositions to the shareholders' motion, certifying a class of investors who bought the company's securities between Nov. 17, 2014, the day of the first alleged Zillow misrepresentation, and Aug. 8, 2017, the day of the alleged final corrective disclosure.

Lead plaintiffs Jo Ann Offutt, Raymond Harris and Johanna Choy claimed...

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