From The Real Deal · TRD Staff · · 50s
Zillow Settles $200M Class-Action Lawsuit
Zillow agrees to $200M class-action settlement over failed iBuying business.
In brief
Zillow agrees to $200M class-action settlement over failed iBuying business. Zillow settles $212M class-action lawsuit related to its defunct iBuying business without admitting wrongdoing. Originally reported by The Real Deal.
Zillow Settles Lawsuit
Zillow agreed to pay more than $212 million to settle a class-action lawsuit related to its defunct iBuying business.
Lawsuit Details
The lawsuit, filed two weeks after Zillow ended iBuying, accused the company of misleading shareholders about its home-flipping business success.
Stock Impact
Zillow's stock dropped 32 percent in November 2021 after reports showed its home portfolio was worth less than it cost to assemble.
Settlement Terms
The settlement requires court approval and does not include an admission of wrongdoing by Zillow.
What to remember
Zillow settles $212M class-action lawsuit related to its defunct iBuying business without admitting wrongdoing.
