SEATTLE, May 08, 2023 (GLOBE NEWSWIRE) — The Rosen Law Firm, P.A. announce that the United States District Court for the Western District of Washington has approved the following announcement of a proposed securities class action settlement that would benefit purchasers of Zillow Group, Inc. securities (NASDAQ: ZG) (NASDAQ: Z):
SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION
TO: ALL PERSONS WHO PURCHASED THE PUBLICLY-TRADED SECURITIES (CLASS A COMMON STOCK, CLASS C COMMON STOCK AND 2% CONVERTIBLE SENIOR NOTES DUE 2021) OF ZILLOW GROUP, INC. (“ZILLOW”) FROM NOVEMBER 17, 2014 THROUGH AUGUST 8, 2017, BOTH DATES INCLUSIVE.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Western District of Washington, that a hearing will be held on August 8, 2023, at 9:00 a.m. before the Honorable John C. Coughenour, United States District Judge of the United States District Court for the Western District of Washington, United States Courthouse, 700 Stewart Street, Suite 16206, Seattle, WA 98101-9906, or by telephonic or videoconference means as directed by the Court, for the purpose of determining:
(1) whether the proposed Settlement of the claims in the above-captioned Action in the amount of $15,000,000 (“Settlement Amount”) should be approved by the Court as fair, reasonable, and adequate;
(2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate;
(3) whether the application of Class Counsel for an award of attorneys’ fees of up to one third of the Settlement Amount, reimbursement of expenses of not more than $1,500,000, and an award of no more than $15,000 each, or $45,000 total, to Class Representatives (“Fee and Expense Application”), should be approved; and
(4) whether this Action should be dismissed with prejudice as set forth in the Stipulation of Settlement, dated March 31, 2023 (“Stipulation”).
If you purchased Zillow Securities1 during the period from November 17, 2014 through August 8, 2017, both dates inclusive (“Class Period”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Zillow Securities.
If you have not received a postcard notice or email providing the link to the detailed Notice of Proposed Settlement of Class Action (“Long Notice”) and a copy of the Proof of Claim and Release Form (“Proof of Claim”), you may obtain copies by writing to or calling Zillow Group, Inc. Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 205, P.O. Box 230, Media, PA 19063; (Tel) (866) 274-4004; (Fax) (610) 565-7985; [email protected], or going to the website, www.strategicclaims.net/zillow. If you are a member of the Class, in order to share in the distribution of the Net Settlement Fund, you must submit a properly completed Proof of Claim electronically at www.strategicclaims.net/zillow or postmarked no later than July 11, 2023 to the Claims Administrator, establishing that you are entitled to recovery. You will be bound by any judgment rendered in the Action whether or not you make a claim.
Any objection to the Settlement, Plan of Allocation, or Fee and Expense Application must be in the manner and form explained in the Long Notice and received no later than July 18, 2023, by each of the following:
Clerk of the Court
United States District Court
Western District of Washington
United States Courthouse
700 Stewart Street, Suite 16229
Seattle, WA 98101-9906
CLASS COUNSEL:
THE ROSEN LAW FIRM, P.A.
Laurence M. Rosen
275 Madison Avenue, 40th Floor
New York, NY 10016
COUNSEL FOR DEFENDANTS:
MAYER BROWN LLP
Joseph De Simone
1221 Avenue of the Americas
New York, NY 10020
If you have any questions about the Settlement, you may call or write to Class Counsel:
THE ROSEN LAW FIRM, P.A.
Laurence M. Rosen
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: 212-686-1060
PLEASE DO NOT CONTACT THE COURT, THE CLERK’S OFFICE, DEFENDANTS OR DEFENDANTS’ COUNSEL REGARDING THIS NOTICE.
Dated: April 3, 2023
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE WESTERN
DISTRICT OF WASHINGTON
_______________________
1 Zillow securities include Class A common stock, Class C common stock and 2% Convertible Senior Notes due 2021.
