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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 newaction@pomlaw.com 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.