Jaeger v. Zillow Group Inc — Entry #159: ORDER granting the Parties' 158 Stipulated Motion for Approval of Class Notice as follows:(a) The Court APPROVES Plaintiff's selection of Strategic Claims…

Case 2:21-cv-01551-TSZ      Document 159   Filed 06/02/26   Page 1 of 10


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                          UNITED STATES DISTRICT COURT
 7                       WESTERN DISTRICT OF WASHINGTON
                                   AT SEATTLE
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     JEREMY JAEGER, on behalf of himself      Case No. 2:21-cv-01551-TSZ
10   and all others similarly situated,
                                              STIPULATED MOTION AND ORDER FOR
11                      Plaintiff,            APPROVAL OF CLASS NOTICE
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           v.
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     ZILLOW GROUP, INC., et al.,
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                        Defendants.
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     STIPULATED MOTION AND ORDER FOR
     APPROVAL OF CLASS NOTICE
     No. 2:21-cv-01551-TSZ


                Case 2:21-cv-01551-TSZ          Document 159         Filed 06/02/26      Page 2 of 10


 1               The parties, by and through their attorneys of record, respectfully request the Court enter

 2   the proposed order set forth below regarding approval of Class Notice.

 3               In support of their request the parties represent the following to the Court:

 4               WHEREAS, by an Order, docket no. 137, dated August 23, 2024, the Court certified the

 5   above-captioned action (the “Action”) to proceed as a class action on behalf of a Class consisting

 6   of:

 7                      All persons or entities who purchased or otherwise acquired Zillow
                        Group, Inc. Class A common stock or Class C capital stock during
 8                      the period from August 5, 2021, to November 2, 2021, inclusive (the
                        “Class Period”), and were damaged thereby.
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10               WHEREAS, Defendants filed a petition for leave to review the certification Order under

11   Federal Rule of Civil Procedure (“FRCP”) 23(f), which was granted on October 24, 2024, see

12   Order (docket no. 147), and therefore this Court entered a stay of proceedings until Defendants’

13   Rule 23(f) Appeal was resolved. Minute Order (docket no. 149).

14               WHEREAS, the Ninth Circuit entered a memorandum opinion, docket no. 151, on

15   September 26, 2025, affirming the Court’s certification Order and remanded the case back to the

16   district court on January 14, 2026, see Mandate (docket no. 155).

17               WHEREAS, on February 19, 2026, this Court lifted the stay, entered a new case

18   schedule, and directed the parties to file a joint status report on a proposed class notice plan no

19   later than March 16, 2026. Minute Order at 2 (docket no. 157). The Parties, having conferred,

20   stipulate and, subject to the Court’s approval, agree as follows:

21               1.     The Parties agree to the use of the form of the Notice of Pendency of Class Action

22   (the “Long Notice”), the Summary Notice of Pendency of Class Action (the “Summary Notice”),

23   and the proposed Postcard Notice of Pendency of Class Action (“Postcard Notice”). 1 See

24   Exs. 1–3 (docket nos. 158-1, 158-2, & 158-3). The Parties also agree to use the proposed form

25   entitled Request to be Excluded from the Class (“Opt-Out Form”). See Ex. 4 (docket nos. 158-4).

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               The Long Notice, Summary Notice, and Postcard Notice are collectively referred to as the
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     “Notices.”
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     STIPULATED MOTION & ORDER FOR
     APPROVAL OF CLASS NOTICE – 1
     No. 2:21-cv-01551-TSZ


           Case 2:21-cv-01551-TSZ            Document 159         Filed 06/02/26      Page 3 of 10


 1   The Declaration of Paul Mulholland, President of Strategic Claims Services, Inc., Regarding

 2   Providing Notice of Class Certification to Members of the Class (“Mulholland Declaration”) sets

 3   out additional detail on the qualification and experience of Strategic Claims Services, Inc.

 4   (“SCS”), as well as its proposed role in disseminating class notice in this matter. See Ex. 5

 5   (docket nos. 158-5).

 6          2.      The proposed form and content of the Notices meet the requirements of FRCP

 7   23(c)(2)(B), as they clearly and concisely state in plain and easily understood language all of the

 8   following: (a) the nature of the Action; (b) the definition of the certified Class; (c) the Class

 9   claims, issues, or defenses; (d) a Class Member’s right to enter an appearance through an

10   attorney if the member so desires; (e) a Class Member’s right to be excluded from the Class; (f)

11   the time and manner for requesting exclusion; and (g) the binding effect of a Class judgment on

12   members under FRCP 23(c)(3). The Notices, method, and schedule set forth below for notifying

13   the Class of the pendency of the Action as a class action meet the requirements of FRCP 23 and

14   of due process, constitute the best notice practicable under the circumstances, and shall constitute

15   due and sufficient notice to all persons and entities entitled thereto.

16          3.      Plaintiff selects Strategic Claims Services, Inc. as the Notice Administrator.

17          4.      Defendant Zillow Group, Inc. (“Zillow”) shall use reasonable efforts to, within

18   twenty-one (21) calendar days after entry of this Order for Approval of Notice and Summary

19   Notice and at no cost to the Class, have its transfer agent provide or cause to be provided to the

20   Notice Administrator security holder records (consisting of the security holder names, addresses,

21   and email addresses to the extent the transfer agent has access to them) in electronic form,

22   identifying all persons or entities who purchased Zillow securities during the period from August

23   5, 2021 to November 2, 2021, both dates inclusive. Class Counsel shall be responsible for all

24   other costs associated with disseminating the Notices.

25          5.      Not later than thirty (30) calendar days from entry of this Order (“Notice Date”),

26   the Notice Administrator shall distribute the Notices, as outlined in the Mulholland Declaration,

27   and substantially in the form of Exhibits 1–3 (docket nos. 158-1, 158-2, & 158-3), to be either (a)

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     STIPULATED MOTION & ORDER FOR
     APPROVAL OF CLASS NOTICE – 2
     No. 2:21-cv-01551-TSZ


            Case 2:21-cv-01551-TSZ         Document 159         Filed 06/02/26      Page 4 of 10


 1   emailed to Class Members for whom the Notice Administrator is able to obtain email addresses

 2   or (b) mailed, by first-class mail, postage prepaid, to Class Members at the addresses set forth in

 3   the records provided by Zillow’s transfer agent, if no email address can be obtained, or who may

 4   otherwise be identified with reasonable effort.

 5          6.      The Notice Administrator shall use reasonable efforts to give notice to Nominees 2

 6   such as brokerage firms and other persons and entities who may have, for the beneficial interest

 7   of any person or entity other than itself or themselves, purchased Zillow securities during the

 8   period from August 5, 2021, to November 2, 2021, both dates inclusive. Ex. 5 at ¶¶ 6–7 (docket

 9   no. 158-5). Such Nominees shall, within seven (7) calendar days of receipt of the Notice, either:

10                  (a) request sufficient copies of the Postcard Notice from the Notice Administrator

11                  to mail to the beneficial owners and, within seven (7) calendar days of receipt of

12                  those Postcard Notices, mail the Postcard Notice to all such beneficial owners; or

13                  (b) request the link to the electronic copy of the Long Notice from the Notice

14                  Administrator and, within seven (7) calendar days of receipt of the link to the

15                  electronic Long Notice, email the Long Notice to beneficial owners; or

16                  (c) provide a list of the names, addresses, and email addresses, to the extent email

17                  addresses are available, of all such beneficial owners to the Notice Administrator,

18                  whereafter the Notice Administrator is ordered to send the Postcard Notice

19                  promptly to such identified beneficial owners.

20          7.      If the Notice Administrator receives an email address for a beneficial owner, the

21   Notice Administrator shall email the Notice to the beneficial owner. Nominees who elect to send

22   the Postcard Notice to their beneficial owners shall send a statement to the Notice Administrator

23   confirming that the mailing of the Postcard Notice and/or emailing of the link to the electronic

24   Long Notice was made and shall retain their mailing and/or emailing records for use in

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          It is anticipated that a large majority of Class Members will be beneficial purchasers who
     hold their securities in “street name,” i.e., the securities are purchased by banks, brokers, and
27   other entities known as Nominees. The Notice Administrator has identified approximately 2,400
28   Nominees and this list is continuously monitored and updated as needed.
     STIPULATED MOTION & ORDER FOR
     APPROVAL OF CLASS NOTICE – 3
     No. 2:21-cv-01551-TSZ


           Case 2:21-cv-01551-TSZ              Document 159    Filed 06/02/26      Page 5 of 10


 1   connection with any further notices that may be provided in the Action. Upon full compliance

 2   with these directions, such Nominees may seek reimbursement of their reasonable expenses

 3   actually incurred by providing the Notice Administrator with proper documentation supporting

 4   the expenses for which reimbursement is sought. The reimbursement to Nominees shall not

 5   exceed $0.02 per name, address, and email address provided to the Notice Administrator; $0.02

 6   per link to the Long Notice actually emailed by Nominees; or $0.02 plus postage at the current

 7   pre-sort rate used by the Notice Administrator per Postcard Notice mailed directly to beneficial

 8   owners by Nominees.

 9          8.      Contemporaneously with the mailing of the Postcard Notice, the Notice

10   Administrator shall cause a copy of the Notices, substantially in the form of Exhibits 1–3 (docket

11   nos. 158-1, 158-2, & 158-3), to be posted on the Notice Administrator’s website,

12   www.JaegervZillowLitigation.com. Ex. 5 at ¶¶ 5, 8 (docket no. 158-5). Class Members will be

13   able to download copies of the Notices. Id. at ¶ 8. The case website will also provide an

14   overview of the case and highlight important dates, such as the Exclusion Deadline. The Notice

15   Administrator will also post on the case website the proposed Opt-Out Form.

16          9.      The Notice Administrator shall cause a copy of the Summary Notice, substantially

17   in the form of Exhibit 2 (docket no. 158-2), to be published once in Investor’s Business Daily

18   and issued once over Globe Newswire, each within ten (10) calendar days of the mailing of the

19   Postcard Notice. Ex. 5 at ¶ 5 (docket no. 158-5).

20          10.     The Notice Administrator will also maintain a toll-free telephone number and

21   email address that will be staffed with customer service representatives trained to answer

22   questions about the Action. Id. at ¶ 8.

23          11.     Class Members shall be bound by all determinations and judgments in this

24   Action, whether favorable or unfavorable, unless such persons and entities request exclusion

25   from the Class in a timely and proper manner, as hereinafter provided. A Class Member wishing

26   to be excluded from the Class shall mail a written request by first class mail, postmarked no later

27   than 60 calendar days from the Notice Date, to the address designated in the Notice. Such request

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     STIPULATED MOTION & ORDER FOR
     APPROVAL OF CLASS NOTICE – 4
     No. 2:21-cv-01551-TSZ


           Case 2:21-cv-01551-TSZ            Document 159         Filed 06/02/26      Page 6 of 10


 1   for exclusion shall clearly state that the Class Member requests exclusion from the Class in

 2   Jaeger v. Zillow Group Inc., et al., Case No.: 2:21-cv-01551-TSZ, and it must: (i) state the name,

 3   address, telephone number, and email address of the person or entity requesting exclusion; (ii)

 4   state the number of Zillow securities purchased, acquired, sold, and/or disposed during the Class

 5   Period, as well as the dates and prices of each such purchase, acquisition, sale, and/or

 6   disposition; (iii) be signed by the person or entity requesting exclusion, or an authorized

 7   representative thereof; and (iv) include account documentation reflecting the person or entity’s

 8   purchase and sale of Zillow securities during the Class Period. The request for exclusion shall

 9   not be effective unless it provides the required information and is made within the time stated

10   above, or the exclusion is otherwise accepted by the Court.

11          12.     Any Class Member who retains separate counsel in connection with this matter

12   must enter an appearance, as set out in the Long Notice, no later than seventy-five (75) calendar

13   days after the Notice Date. Within eighty (80) calendar days after the Notice Date, Class Counsel

14   will forward to counsel for Defendants any notices of appearance that were mailed to Class

15   Counsel but not filed with the Court.

16          13.     Class Counsel shall file with the Court proof of mailing of the Postcard Notice,

17   proof of publication of the Summary Notice, and proof of posting of the Notice on the Notice

18   Administrator’s website within ten (10) calendar days following the Summary Notice publication

19   date. Class Counsel shall also file with the Court an affidavit setting forth a list of all persons and

20   entities who have validly and timely requested exclusion from the Class within fourteen (14)

21   calendar days following the expiration of the exclusion deadline.

22          14.     At minimum, the Notice Administrator will perform the following tasks to

23   complete adequate notice to Class Members: (1) set up a case website which will host copies of

24   the Long Notice, Summary Notice, Postcard Notice, Opt-Out Form, operative Complaint,

25   relevant Court orders, and all other pertinent information for Class Members; (2) assist in

26   preparing the Long Notice, Summary Notice, Postcard Notice, Opt-Out Form, and the email link

27   to the electronic Long Notice; (3) notify Nominees of the appropriate manner to provide the

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     STIPULATED MOTION & ORDER FOR
     APPROVAL OF CLASS NOTICE – 5
     No. 2:21-cv-01551-TSZ


           Case 2:21-cv-01551-TSZ           Document 159        Filed 06/02/26        Page 7 of 10


 1   Notices to potential Class Members who are beneficial holders; (4) set up a database for Class

 2   Members’ information, a phone system, and a frequently asked questions protocol for use by the

 3   Notice Administrator’s customer service representatives; (5) perform email verification for all

 4   emails received and perform National Change of Address search for pre-mailings of the Postcard

 5   Notice; (6) disseminate, by email, where possible, or by mailed Postcard Notice, notice to Class

 6   Members who can be identified with reasonable effort; (7) publish the Summary Notice once

 7   over the Globe Newswire and once in the Investors’ Business Daily; (8) perform skip-tracing for

 8   Postcard Notices returned to SCS as undeliverable; (9) update the Class information database to

 9   include updated contact information and other updated information regarding Class Members;

10   (10) handle and respond to all phone call questions from Class Members; (11) respond to all

11   other questions via e-mails, letters, and other correspondence from Class Members; (12)

12   correspond with brokers and institutions to answer any questions and assist with any information

13   concerning administrative matters regarding the Action; (13) review and process all opt-out

14   requests; (14) prepare declarations as required by the Court throughout the administration

15   process; and (15) perform all other actions as directed by Lead Plaintiff’s counsel or the Court.

16   Ex. 5 at ¶ 9 (docket no. 158-5).

17          15.      Below is a table of the material notice dates described above.

18           Event                                          Date
19           Order granting stipulation for class notice    Order Date
             and summary notice (“Order Date”)
20           Zillow or its transfer agent provides          21 days after Order Date
21           security holder records identifying all
             persons or entities who purchased Zillow
22           securities during the Class Period to the
             Notice Administrator
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             Notice Administrator distributes Notices       30 days after Order Date
24           and publishes case website (“Notice
             Date”)
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     STIPULATED MOTION & ORDER FOR
     APPROVAL OF CLASS NOTICE – 6
     No. 2:21-cv-01551-TSZ


          Case 2:21-cv-01551-TSZ           Document 159        Filed 06/02/26      Page 8 of 10


 1          Notice Administrator facilitates                10 days after Notice Date
            publication of the Summary Notice in
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            Investor’s Business Daily and in Globe
 3          Newswire (“Notice Publication Date”)
            Exclusion Deadline                              60 days after Notice Date
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            Appearance Deadline for attorneys acting        75 days after Notice Date
 5          as separate counsel on behalf of any Class
            Members
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            Class counsel files proof of dissemination      10 days after Notice Publication Date
 7          of Notices
            Class counsel files affidavit identifying all   14 days after Exclusion Deadline
 8          persons and/or entities who have
 9          requested exclusion

10         IT IS SO STIPULATED.
11   DATED: March 16, 2026
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     By:     /s/ Steve W. Berman                            By:    /s/ Peter B. Morrison
13   Steve W. Berman, WSBA No. 12536                        Peter B. Morrison (admitted pro hac vice)
     By:     /s/ Catherine Y. N. Gannon                     Virginia F. Milstead (admitted pro hac vice)
14                                                          Winston Hsiao (admitted pro hac vice)
     Catherine Y. N. Gannon, WSBA No. 47664
     By:     /s/ Sean R. Matt                               SKADDEN, ARPS, SLATE, MEAGHER
15                                                          & FLOM, LLP
     Sean R. Matt, WSBA No. 21972                           300 South Grand Avenue, Suite 3400
16   HAGENS BERMAN SOBOL SHAPIRO LLP                        Los Angeles, CA 90071
     1301 Second Avenue, Suite 2000                         Telephone: (213) 687-5000
17   Seattle, WA 98101                                      Facsimile: (213) 521-5000
     Telephone: (206) 623-7292                              Peter.Morrison@skadden.com
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     Facsimile: (206) 623-0594                              Virginia.Milstead@skadden.com
19   steve@hbsslaw.com                                      Winston.Hsiao@skadden.com
     catherineg@hbsslaw.com
20   sean@hbsslaw.com                                       By:     /s/ Sean C. Knowles
                                                            Sean C. Knowles, WSBA No. 39893
21   Lucas E. Gilmore (admitted pro hac vice)               PERKINS COIE LLP
     HAGENS BERMAN SOBOL SHAPIRO LLP                        1201 Third Avenue, Suite 4900
22   715 Hearst Avenue, Suite 202                           Seattle, WA 98101
     Berkeley, CA 94710                                     Telephone: (206) 359-8000
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     Telephone: (510) 725-3000                              Facsimile: (206) 359-9000
24   Facsimile: (510) 725-3001                              SKnowles@perkinscoie.com
     lucasg@hbsslaw.com
25                                                          Attorneys for Defendants
                                                            Zillow Group, Inc., Richard Barton,
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                                                            Allen Parker, and Jeremy Wacksman
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     STIPULATED MOTION & ORDER FOR
     APPROVAL OF CLASS NOTICE – 7
     No. 2:21-cv-01551-TSZ


          Case 2:21-cv-01551-TSZ         Document 159   Filed 06/02/26   Page 9 of 10


 1   Raffi Melanson (admitted pro hac vice)
     HAGENS BERMAN SOBOL SHAPIRO LLP
 2   1 Faneuil Hall Sq., 5th Floor
     Boston, MA 02109
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     Telephone: (617) 482-3700
 4   Facsimile: (617) 482-3003

 5   Lead Counsel for Lead Plaintiff Jaeger
 6   Stacey M. Kaplan (admitted pro hac vice)
     KESSLER TOPAZ MELTZER
 7   & CHECK, LLP
 8   One Sansome Street, Suite 1850
     San Francisco, CA 94104
 9   Telephone: (415) 400-3000
     Facsimile: (415) 400-3001
10   skaplan@ktmc.com

11   Gregory M. Castaldo (admitted pro hac vice)
     Evan R. Hoey (admitted pro hac vice)
12   KESSLER TOPAZ MELTZER
     & CHECK, LLP
13   280 King of Prussia Road
     Radnor, PA 19087
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     Telephone: (610) 667-7706
15   Facsimile: (610) 667-7056
     gcastaldo@ktmc.com
16   ehoey@ktmc.com

17   Additional Counsel for Lead Plaintiff Jaeger

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     STIPULATED MOTION & ORDER FOR
     APPROVAL OF CLASS NOTICE – 8
     No. 2:21-cv-01551-TSZ


         Case 2:21-cv-01551-TSZ          Document 159         Filed 06/02/26     Page 10 of 10


 1                                              ORDER

 2         (1)    The parties’ Stipulated Motion for Approval of Class Notice, docket no. 158, is

 3   GRANTED as follows:

 4                (a)     The Court APPROVES Plaintiff’s selection of Strategic Claims Services,

 5         Inc. as the Notice Administrator, and the parties’ proposed Long Notice, Summary

 6         Notice, Opt-Out Form, and class notice plan.

 7                (b)     The parties’ Postcard Notice, Ex. 3 (docket no. 158-3), does not satisfy the

 8         requirements of FRCP 23(c)(2)(B)(iv) and (vii). Therefore, paragraph 4 of the Postcard

 9         Notice, Ex. 3 (docket no. 158-3 at 4), is MODIFIED to read as follows:

10               If you are and decide to remain a member of the Class, please visit the
                 website below to register so that if any further notices are disseminated
11               in connection with the Action, you will receive them. Inquiries, other
                 than requests for the Notice, may be made to Class Counsel: Steve W.
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                 Berman, Esq., Catherine Y.N. Gannon, Esq., Christopher O’Hara, Esq.,
13               Hagens Berman Sobol Shapiro LLP, 1301 Second Avenue, Suite 2000,
                 Seattle, WA 98101. If you are a Class Member, you have the right to
14               decide whether to remain a member of the Class. If you choose to
                 remain a member of the Class, you do not need to do anything at
15               this time other than to retain your documentation reflecting your
                 transactions in Zillow securities. You will be represented by Class
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                 Counsel appointed by the Court unless you retain your own counsel at
17               your own expense and your counsel enters an appearance on your
                 behalf by ______________, 202_. Regardless of whether you appear
18               by your own counsel, if you are a Class Member and do not exclude
                 yourself from the Class, you will be bound by the proceedings in this
19               Action, including all orders and judgments of the Court, whether
20               favorable or unfavorable. You will automatically be included in the
                 Class unless you exclude yourself from the Class.
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           (2)    The clerk is directed to send a copy of this Order to all counsel of record.
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           IT IS SO ORDERED.
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           Dated this 2nd day of June, 2026.
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25                                                        A
26                                                        Thomas S. Zilly
                                                          United States District Judge
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     STIPULATED MOTION & ORDER FOR
     APPROVAL OF CLASS NOTICE – 9
     No. 2:21-cv-01551-TSZ