Episode Details

Zillow is asking the Supreme Court to intervene in a high-stakes securities case that began in 2021, challenging whether its now-defunct Zillow Offers business misled investors. A lower court ruled it could be a class-action lawsuit — a decision upheld on appeal — and now Zillow hopes the highest court will reverse course. Backing their petition are influential amicus briefs from former SEC officials, the U.S. Chamber of Commerce, and a former Attorney General, all urging clarity on class certification standards to prevent “crushing liability” and protect American competitiveness. Zillow’s legal argument isn’t about admitting wrongdoing but about how post-fact disclosures should be weighed — they claim they disclosed algorithmic flaws and investors should have understood the risks. Plaintiffs must respond by August 11, and the Supreme Court will decide at a private conference on September 28 — with a potential landmark ruling looming if the case is accepted.

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