Zillow Settles Shareholder Lawsuit for $212.5M
Zillow agreed to pay $212.5 million to settle a class action lawsuit accusing the company of misleading shareholders about its failed home flipping venture. The online real estate marketplace did not admit wrongdoing in the settlement, which requires court approval.
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ZILLOW GROUP INC - A will pay $212.5 million in cash to settle a shareholder class action over its failed home-flipping venture. The settlement resolves accusations that the online real estate marketplace misled investors regarding the profitability of its Zillow Offers program. The payout removes a major legal overhang that has persisted since the venture collapsed in late 2021.
