Zillow Group TodayZGZillow Group$68.11 -0.78 (-1.14%) 52-Week Range$55.08▼$90.22Price Target$86.92Add to WatchlistZillow Group Inc. NASDAQ: ZG is on track for its first profitable year since 2012. The company has cited increased revenue from its mortgage business and a focus on closely managing headcount as reasons for the spike in profitability. However, the real estate technology company may still need some help, in the form of lower interest rates, to reverse the bearish momentum from recent events. On ...

An analyst who has been neutral on Zillow's stock for years just turned bullish after the recent selloff, saying it now offers potential 20% upside. ...

Zillow (Nasdaq: ZG) shares fell 4.3% on Wednesday after the Federal Trade Commission (FTC) filed an antitrust lawsuit against the company and Rocket Companies' (NYSE: RKT) subsidiary Redfin, alleging that the real estate platforms entered into an unlawful agreement to suppress competition in the online rental housing advertising market. Rocket shares fell 3% during after-hours trading.The FTC complaint highlighted a $100 million (£74 million) agreement between the companies, executed in February, under whic ...

Core Viewpoint - Redfin and Zillow assert that their partnership does not violate antitrust laws despite facing legal challenges from multiple states and the FTC [1][2]. Group 1: Legal Allegations - Five states, including Arizona, Connecticut, New York, Virginia, and Washington, have filed an antitrust lawsuit against Redfin and Zillow [2]. - The lawsuit claims that the companies unlawfully eliminated competition by agreeing that Zillow would pay Redfin $100 million to cease competing for multifamily housing listings [3]. - Virginia Attorney General Jason Miyares stated that this arrangement harms renters and property owners by undermining market incentives for quality services [4]. Group 2: Company Responses - Redfin has publicly disagreed with the allegations and anticipates being vindicated in court [5]. - Redfin argues that its partnership with Zillow enhances the number of rental listings available to website visitors and provides advertisers with access to more potential renters [6]. - Zillow claims that the partnership is beneficial for both renters and property managers, increasing access to multifamily listings across platforms [7].

Zillow Group and Redfin were sued on Wednesday by five states for allegedly conspiring to thwart competition in online rental listings, including when Zillow paid Redfin $100 million to stop running apartment ads.Attorneys general of Virginia, Arizona, Connecticut, New York and Washington filed their antitrust lawsuit in the Alexandria, Virginia federal court. The Federal Trade Commission filed a similar lawsuit there on Tuesday.Both cases stemmed from a February agreement between Zillow and Redfin, which t ...

Attorneys general from five states sued Zillow and Redfin on Wednesday, alleging the companies schemed to stop competition in the online housing rental market.The lawsuit follows a similar one filed by the Federal Trade Commission on Tuesday.Officials from New York, Arizona, Connecticut, Washington and Virginia jointly filed the lawsuit Wednesday, citing a February deal between the two companies in which Zillow "paid Redfin $100 million to shut down its apartment rental advertising business and transfer its ...

Five U.S. states have filed an antitrust lawsuit accusing Zillow Group and Redfin Corp of running an illegal scheme to stop competing for apartment advertisements. ...

NEW YORK (AP) — The U.S. Federal Trade Commission is suing Zillow and Redfin, accusing the real estate companies of entering what the regulator says is an illegal deal to suppress competition in online rental advertising. In a lawsuit filed on Tuesday, the FTC alleges that this agreement started in February — when Zillow paid Redfin $100 million. In exchange for that and other compensation, the commission said, Redfin agreed to end contracts with advertising partners, stop competing ads for multifamily pr ...

Core Viewpoint - The Federal Trade Commission (FTC) is suing Zillow and Redfin for allegedly conspiring to reduce competition in the online multifamily rental listing market, violating federal antitrust laws [1][2]. Summary by Sections Allegations of Antitrust Violations - The FTC claims that Zillow paid Redfin $100 million to re-host Zillow's multifamily rental listings on Redfin's platforms, which constitutes a violation of antitrust laws [2]. - Redfin agreed to terminate contracts with its existing advertising customers and assist Zillow in acquiring that business, committing to stay out of the multifamily advertising market for up to nine years [3]. Impact on Employment and Market Structure - Following the agreement, Redfin reportedly fired hundreds of employees and then helped Zillow selectively rehire many of them [4]. - The arrangement has led to a situation where Redfin's platforms became virtually identical to Zillow's, reducing competition in the market [3]. Market Reaction and Statements - Following the FTC's announcement, shares of Zillow and Redfin's parent company, Rocket Companies, experienced a sharp decline in afternoon trading [5]. - A Zillow spokesperson defended the partnership, stating it benefits both renters and property managers by expanding access to multifamily listings [6]. Legal Actions and Potential Outcomes - The FTC's lawsuit aims to unwind the agreement and may involve requirements for divestitures or restructuring to restore competition in the rental advertising market [7].

Core Viewpoint - The FTC has accused Zillow and Rocket of violating antitrust laws, indicating potential legal challenges for both companies in the real estate and mortgage sectors [1] Company Summary - Zillow and Rocket are facing allegations from the FTC regarding antitrust violations, which could impact their market operations and competitive strategies [1] Industry Summary - The accusations highlight ongoing scrutiny in the real estate and mortgage industries concerning competitive practices, potentially leading to regulatory changes and increased oversight [1]