The U.S. Supreme Court declined on Oct. 5, 2026, to review Zillow Group’s appeal in an investor class action tied to Zillow Offers, its shuttered home-buying business. That leaves a lower-court class-certification ruling in place; it does not decide whether Zillow committed securities fraud. Separately, a federal judge allowed an agent antitrust case involving Zillow’s referral programs and Zillow Home Loans to proceed past the motion-to-dismiss stage. That ruling also is not a finding of liability.
What the Supreme Court decided in the Zillow Offers case
The Supreme Court declined Zillow’s petition for review on Oct. 5, 2026, according to Reuters. The decision leaves in place the Ninth Circuit’s ruling upholding class certification in the investor lawsuit. It does not affirm the investors’ allegations, determine that Zillow violated securities laws, or resolve the case’s merits.
The appeal concerned a procedural question: how closely alleged corrective disclosures must relate to earlier statements for a securities class action to be certified under a price-maintenance theory. The Court’s refusal to hear the appeal means the lower-court class-certification decision stands; it is not a Supreme Court ruling that Zillow lost the lawsuit.
What investors allege about Zillow Offers
The investor case concerns statements made before Zillow shut down Zillow Offers in 2021. Investors allege that company leaders presented the home-flipping venture too positively while problems with its home-price forecasting were emerging. Zillow disputes wrongdoing. Its lawyers have denied securities fraud and argued that the venture’s risks were disclosed and its closure was a business decision, Reuters reported.
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The class-certification dispute is not a verdict on those competing accounts. Steve Berman, a lawyer representing the investor class, told Reuters, “We look forward to now moving this case to trial.” That is counsel’s statement, not confirmation of a trial date; the available reporting does not establish when a trial is scheduled.
Why the Zillow Home Loans case is separate
In Dupuis v. Zillow, real-estate agents bring a separate antitrust case involving Zillow’s referral programs and Zillow Home Loans. Plaintiffs allege that Zillow programs pressured participating agents to steer buyers toward Zillow Home Loans and related services. These are allegations, not established facts, and Zillow contests them.
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On Sept. 28, 2026, Judge James L. Robart of the U.S. District Court for the Western District of Washington denied Zillow’s motion to dismiss, according to reporting published the following day. The ruling allows the claims to proceed beyond the pleadings stage. It does not establish that the alleged conduct occurred or that Zillow violated antitrust law.
Zillow’s Sept. 29 update says the court had not ruled on the merits. Zillow says consumers and agents retain choice and describes its Zillow Preferred program as providing buyer leads at no upfront cost. Those are the company’s positions, not findings by the court.
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| Issue | Investor case | Agent antitrust case |
|---|---|---|
| Plaintiffs | Shareholders | Real-estate agents |
| Conduct alleged | Misleading statements about Zillow Offers and its pricing problems | Anticompetitive pressure through referral programs and lending-related services |
| Legal issue at the latest ruling | Whether the Supreme Court would review a class-certification decision | Whether the pleaded claims could proceed past a motion to dismiss |
| Latest decision-maker and date | U.S. Supreme Court declined review on Oct. 5, 2026; the Ninth Circuit’s class-certification ruling remains in place | U.S. District Court for the Western District of Washington denied Zillow’s motion to dismiss on Sept. 28, 2026 |
| What the ruling decided | Class certification remains; liability and the merits remain unresolved | Claims may proceed; liability and the merits remain unresolved |
The cases have different plaintiffs, allegations and procedural paths. The Supreme Court acted in the shareholder securities case; the Washington district court acted in the agents’ antitrust case.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What Zillow’s mortgage figures show—and what they do not
Mortgage Professional reported that Zillow recorded $2.2 billion in purchase-loan originations in the second quarter of 2026, up 95% year over year, and $84 million in mortgage revenue, up 75% year over year. These are business metrics reported for that quarter, not evidence that the allegations in the agent lawsuit are true or false.
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