A Zillow Group shareholder has filed a lawsuit alleging the company and its two top executives defrauded investors by misrepresenting its co-marketing program’s compliance with an anti-kickback law, thereby artificially inflating the real estate giant’s stock price.
- A lawsuit alleges Zillow Group defrauded hundreds or thousands of investors by not disclosing that its agent-lender co-marketing program is not compliant with RESPA.
- Zillow Group maintains that its acts and practices are lawful and that its co-marketing program allows agents and lenders to comply with RESPA.
- The outcome of settlement talks between Zillow Group and the CFPB is pending.
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