Zillow to pay $212.5 million to settle class action over failed real estate venture
In short
The company has formally agreed to a massive financial resolution tied to its past operations. Under the terms, a total of $212.5 million will be paid out to conclude the class action. The legal claims against the business were prompted entirely by the collapse of a specific real estate venture it had previously launched.
Key points
- The substantial payout resolves liabilities originating from an unsuccessful property ini…: The substantial payout resolves liabilities originating from an unsuccessful property initiative.
- Resolving the class action lawsuit concludes significant legal proceedings against the co…: Resolving the class action lawsuit concludes significant legal proceedings against the company.
- The settlement requires an agreement to disburse hundreds of millions of dollars.: The settlement requires an agreement to disburse hundreds of millions of dollars.