Case 2:21-cv-01551-TSZ Document 159 Filed 06/02/26 Page 1 of 10 1 2 3 4 5 6 UNITED STATES DISTRICT COURT 7 WESTERN DISTRICT OF WASHINGTON AT SEATTLE 8 9 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 12 v. 13 ZILLOW GROUP, INC., et al., 14 Defendants. 15 16 17 18 19 20 21 22 23 24 25 26 27 28 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. 9 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). 26 1 The Long Notice, Summary Notice, and Postcard Notice are collectively referred to as the 27 “Notices.” 28 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) 28 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 25 26 2 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 28 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 28 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 23 Notice Administrator distributes Notices 30 days after Order Date 24 and publishes case website (“Notice Date”) 25 26 27 28 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 2 Investor’s Business Daily and in Globe 3 Newswire (“Notice Publication Date”) Exclusion Deadline 60 days after Notice Date 4 Appearance Deadline for attorneys acting 75 days after Notice Date 5 as separate counsel on behalf of any Class Members 6 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 12 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 18 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 23 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, 26 Allen Parker, and Jeremy Wacksman 27 28 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 3 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 14 Telephone: (610) 667-7706 15 Facsimile: (610) 667-7056 gcastaldo@ktmc.com 16 ehoey@ktmc.com 17 Additional Counsel for Lead Plaintiff Jaeger 18 19 20 21 22 23 24 25 26 27 28 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. 12 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 16 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. 21 (2) The clerk is directed to send a copy of this Order to all counsel of record. 22 IT IS SO ORDERED. 23 Dated this 2nd day of June, 2026. 24 25 A 26 Thomas S. Zilly United States District Judge 27 28 STIPULATED MOTION & ORDER FOR APPROVAL OF CLASS NOTICE – 9 No. 2:21-cv-01551-TSZ