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Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Zillow Group, Ginkgo Bioworks, StoneCo, and Citrix Systems and Encourages Investors to Contact the Firm

January 10, 2022 GMT

NEW YORK, Jan. 09, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Zillow Group, Inc. (NASDAQ: ZG), Ginkgo Bioworks Holdings, Inc. (NYSE: DNA), StoneCo Ltd. (NASDAQ: STNE), and Citrix Systems, Inc. (NASDAQ: CTXS). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

Zillow Group, Inc. (NASDAQ: ZG)

Class Period: August 7, 2020 – November 2, 2021

Lead Plaintiff Deadline: January 18, 2022

The lawsuit alleges throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that, despite operational improvements, the Company experienced significant unpredictability in forecasting home prices for its Zillow Offers business; (2) that such unpredictability, as well as labor and supply shortages, led to a backlog of inventory; (3) that, as a result of the foregoing, the Company was reasonably likely to wind-down its Zillow Offers business, which would have a material adverse impact on its financial results; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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For more information on the Zillow class action go to: https://bespc.com/cases/ZG

Ginkgo Bioworks Holdings, Inc. (NYSE: DNA)

Class Period: May 11, 2021 – October 5, 2021

Lead Plaintiff Deadline: January 18, 2022

According to the complaint, Defendants made false and/or misleading statements and failed to disclose that: (1) the Company’s failure to derive real revenue from third-party customers left it almost completely dependent on related parties; (2) most, if not all, of the Company’s revenue came from related parties the Company created, funded, or controlled through its ownership and board seats; (3) the Company was misclassifying and underreporting related party revenue in order to conceal the Company’s near total-dependence on related parties; and (4) many of the Company’s new R&D partners are undisclosed related parties and/or façades.

For more information on the Ginkgo class action go to: https://bespc.com/cases/DNA

StoneCo Ltd. (NASDAQ: STNE)

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Class Period: March 11, 2021 – November 16, 2021

Lead Plaintiff Deadline: January 18, 2022

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that StoneCo was experiencing difficulties in implementing its credit product; (2) that StoneCo faced significant risks via its point-of-sale vendor, PAX Global Technology Ltd.; (3) that, as a result of the foregoing, the Company’s financial results would be adversely impacted; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

For more information on the StoneCo class action go to: https://bespc.com/cases/STNE

Citrix Systems, Inc. (NASDAQ: CTXS)

Class Period: January 22, 2020 – October 6, 2021

Lead Plaintiff Deadline: January 18, 2022

On July 29, 2021, the Company disclosed that its transition to cloud-based services had not been as successful as the Company had led investors to believe, citing to “the need to evolve our sales strategy to deliver more predictable results” as well as a major restructuring of its sales leadership in order to “enhance [its] focus on” cloud migration.

Then, on October 6, 2021, post-market, the Company disclosed that its President and Chief Executive Officer (“CEO”) had stepped down.

For more information on the Citrix class action go to: https://bespc.com/cases/CTXS

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com