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Lawsuit filed for Investors in NASDAQ: BZ shares over alleged Securities Laws Violations by Kanzhun Limited

07-16-2021 09:38 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Kanzhun Limited (NASDAQ: BZ) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Kanzhun Limited (NASDAQ: BZ) shares over alleged securities laws violations.

An investor, who purchased shares of Kanzhun Limited (NASDAQ: BZ), filed a lawsuitover alleged violations of Federal Securities Laws by Kanzhun Limited.

Investors who purchased shares of Kanzhun Limited (NASDAQ: BZ) have certain options and for certain investors are short and strict deadlines running. Deadline: September 10, 2021. NASDAQ: BZ investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

China based Kanzhun Limited operates an online recruitment platform, BOSS Zhipin, assists the recruitment process between job seekers and employers for enterprises and corporations in the People's Republic of China.
On or about June 22, 2021, Kanzhun Limited sold about 48 million shares of stock in its initial public stock offering (the "IPO") at $19 a share, raising nearly $912 million in new capital.
Then on July 5, 2021, Kanzhun Limited reported: "pursuant to the announcement posted by the Cyberspace Administration of China on July 5, 2021, the Company is subject to cybersecurity review by the authority. During the review period, 'BOSS Zhipin' app is required to suspend new user registration in China to facilitate the process."

Shares of Kanzhun Limited (NASDAQ: BZ) declined from $42.57 per share on June 25, 2021, on July 8, 2021, to $29.01 per share.

The plaintiff claims that between June 11, 2021 and July 2, 2021 the defendants made false and/or misleading statements and/or failed to disclose that Kanzhun would face an imminent cybersecurity review by the Cyberspace Administration of China (the "CAC"), that the CAC would require Kanzhun to suspend new user registration on its BOSS Zhipin app, that Kanzhun needed to "to conduct a comprehensive examination of cybersecurity risks”, that Kanzhun needed to "enhance its cybersecurity awareness and technology capabilities”, and that as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Kanzhun Limited (NASDAQ: BZ) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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