NEW YORK, July 28, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of CoStar Group, Inc. ("CoStar" or the "Company") (NASDAQ: CSGP). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether CoStar and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On July 27, 2021, CoStar issued a press release announcing its financial and operating results for the second quarter of 2021. Among other results, CoStar disclosed that "[t]he Company is lowering its adjusted EBITDA guidance for the full year of 2021 to a new range of $605 million to $615 million to reflect the expected negative EBITDA results of Homes.com", a residential marketplace acquired by CoStar in May 2021, "and planned investments to integrate and develop the residential marketplace." On this news, CoStar's stock price fell sharply during intraday trading on July 28, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.