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.