From the Wires
INVESTOR ALERT: Former Louisiana Attorney General and Kahn Swick & Foti, LLC, Remind Investors With Large Financial Interests of Lead Plaintiff Deadline in Class Action Lawsuit Against Zillow Inc. - Z
By: Marketwired .
Dec. 5, 2012 05:29 PM
NEW ORLEANS, LA -- (Marketwire) -- 12/05/12 -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 28, 2013, to file lead plaintiff applications in a securities class action lawsuit against Zillow, Inc. (NASDAQ: Z), if they purchased the Company's common stock during the period between February 15, 2012 and November 6, 2012, inclusive (the "Class Period"). This action is pending in the United States District Court for the Western District of Washington.
What You May Do
If you purchased shares of Zillow and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (firstname.lastname@example.org), toll free, 877-515-1850, or via cell phone any time at 504-301-7900. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 28, 2013.
About the Lawsuit
Zillow and certain of its senior executives are charged with issuing a series of materially false and misleading statements, during the Class Period, in violation of federal securities laws.
On November 6, 2012, Zillow shares collapsed $6.22 per share, to close at $28.15 per share, after the Company belatedly disclosed weak third quarter 2012 earnings and after the Company reduced fourth quarter and full year 2012 revenue guidance. During the class period, while Zillow's stock price was artificially inflated, Company insiders sold 3.1 million shares of their own Zillow stock for proceeds of nearly $115 million. The Company also was able to raise $156 million through a September 2012 offering -- just weeks before the end of the Class Period.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.
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