Ademi LLP is investigating possible securities fraud claims against Zillow (NASDAQ: Z and ZG). The investigation results from inaccurate statements Zillow may have made regarding its business operations and prospects.
The investigation focuses on whether Zillow properly disclosed the viability and value of using its Zestimate proprietary model in its home-buying division. On November 2, 2021, Zillow announced that it would “wind down” its Zillow Offers division, which focused on buying homes, refurbishing them and then selling them, after determining that the “unpredictability in forecasting home prices far exceeds what we anticipated and continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility.”