INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That Securities Class Action Lawsuits Have Been Filed on Behalf of Investors in Owlet, Inc. (OWLT), Zhangmen Education Inc. (ZME), and Zillow Group, Inc. (Z, ZG) and Encourages Investors to Contact the Firm

NEW YORK, Dec. 15, 2021 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP reminds investors that securities class action lawsuits have been filed on behalf of investors in securities of Owlet, Inc., Zhangmen Education Inc., and Zillow Group, Inc. Investors have until the deadlines below to apply to the Court to be appointed as lead plaintiff in the lawsuits. Additional information about each case can be found at the links provided below.

Owlet, Inc. (“Owlet” or the “Company”) (NYSE: OWLT)

Class Period: March 31, 2021 to October 4, 2021
Pending Court: U.S. District Court for the Central District of California
Lead Plaintiff Deadline: January 18, 2022

The lawsuits allege throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Owlet was reasonably likely to be required to obtain marketing authorization for the Smart Sock because the FDA concluded it was a medical device; (2) as a result, Owlet was reasonably likely to cease commercial distribution of the Smart Sock in the U.S. until it obtained the requisite approval; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

For additional information on the Owlet lawsuits please visit this website.

Zhangmen Education Inc. (“Zhangmen Education” or the “Company”) (NYSE: ZME)

Class Period: June 5, 2021 to November 19, 2021
Pending Court: U.S. District Court for the Southern District of New York
Lead Plaintiff Deadline: January 18, 2022

The lawsuit alleges that the IPO Registration Statement failed to disclose that: (a) PRC authorities were in the process of implementing sweeping new regulatory reforms on the private education industry in China including, among others, prohibitions on: (i) profit-making by private education companies, (ii) engaging in core-curriculum tutoring on weekends and vacations, and (iii) capital-raising by companies like Zhangmen Education; (b) the known risks, events, and uncertainties noted in the Registration Statement were reasonably likely to have a material adverse effect on Zhangmen Education’s business; and (c) based on the foregoing, the statements in the Registration Statement concerning Zhangmen Education’s historical financial performance, market demand, and industry trends were materially incomplete, inaccurate, and misleading.

For additional information on the Zhangmen Education lawsuit please visit this website.

Zillow Group, Inc. (“Zillow” or the “Company”) (NASDAQ: Z, ZG)

Class Period: February 10, 2021 to November 2, 2021
Pending Court: U.S. District Court for the Western District of Washington
Lead Plaintiff Deadline: January 18, 2022

The lawsuits allege throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that, despite operational improvements, the Company experienced significant unpredictability in forecasting home prices for its Zillow Offers business; (2) that such unpredictability, as well as labor and supply shortages, led to a backlog of inventory; (3) that, as a result of the foregoing, the Company was reasonably likely to wind-down its Zillow Offers business, which would have a material adverse impact on its financial results; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

For additional information on the Zillow lawsuits please visit this website.

About Kirby McInerney LLP:

Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.  

Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
(212) 371-6600
[email protected]
www.kmllp.com

Disclaimer: This content is distributed by The GlobeNewswire