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Business · Seattle

Zillow agrees to pay $212.5 million to settle an investor suit over home flipping

The Seattle company disclosed the deal Wednesday. About $48 million is expected from insurance. A court still has to approve it.

By West Coast News staff ·
The Amazon Spheres in Seattle
The Amazon Spheres in downtown Seattle.

Zillow Group will pay $212.5 million to settle a shareholder class action over Zillow Offers, the home-flipping business it shut down in 2021, GeekWire reported Wednesday evening. The suit alleged executives described the business too positively in the months before the shutdown and did not disclose how poorly the company could predict home prices. About $48 million of the payment is expected to come from insurance. The deal needs court approval and includes no admission of wrongdoing. Zillow disclosed it in an SEC filing.

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