Bloomberg Law
Jan. 11, 2018, 3:34 PM UTC

Zillow Execs Face Shareholder Suit on Enforcement Threat

Bloomberg Law - Staff Reports

Top executives of Zillow Group Inc., are facing a shareholder lawsuit that says they misled investors about potential enforcement action by the Consumer Financial Protection Bureau.

The lawsuit highlights an underlying dispute between Zillow and the CFPB that could send fresh signals about the direction of CFPB enforcement.

The Jan. 8 suit was brought on behalf of the company by shareholder Melvyn Klein, and names eight Zillow officers and directors, including co-founder and Executive Chairman Richard N. Barton. According to Klein, a 2017 securities filing by Zillow “made false and/or misleading statements and/or failed to disclose” that a Zillow co-marketing ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.