BZ ALERT: Robbins Geller Rudman & Dowd LLP Announces Opportunity for Investors with Substantial Losses to Lead the Kanzhun Limited Class Action Lawsuit

SAN DIEGO–(BUSINESS WIRE) – Robbins Geller Rudman & Dowd LLP announces that buyers of Kanzhun Limited (NASDAQ: BZ) publicly traded securities will be available between June 11, 2021 and July 2, 2021, inclusive (the “Class Period”) through December 10, 2021, inclusive. September 2021 will have time to apply for appointment as the lead plaintiff in the Kanzhun class action. The Kanzhun class action lawsuit charges Kanzhun and some of its officers of violating the Securities Exchange Act of 1934. The Kanzhun class action lawsuit (Bell v. Kanzhun Limited, No. 21-cv-13543) was initiated in the New District on July 12, 2021 Jersey and is assigned to Judge Kevin McNulty.

If you have suffered significant losses and wish to serve as the lead plaintiff in the Kanzhun class action, please complete your information here. You can also contact Attorney JC Sanchez of Robbins Geller by phone at 800 / 449-4900 or by email at [email protected]. Motions by the lead plaintiffs in the Kanzhun class action must be filed with the court no later than September 10, 2021.

CASE ALLEGATION: The Kanzhun Class Action alleges that, during the Class Action Period, Defendants made false and misleading statements and failed to disclose that: (i) Kanzhun is facing an imminent cybersecurity review by the Cyberspace Administration of China (“CAC”); (ii) the CAC would ask Kanzhun to block the registration of new users in its BOSS Zhipin app; (iii) Kanzhun had to “conduct a comprehensive cybersecurity risk investigation”; (iv) Kanzhun needed to “improve his cybersecurity awareness and technological capabilities”; and (v) as a result, defendants’ statements about its business, operations and prospects were materially false and misleading and / or were in no reasonable basis at all relevant times.

On July 5, 2021, Kanzhun published a press release entitled “KANZHUN LIMITED Announces Cybersecurity Review in China”, in which it was announced in a relevant part that “according to the [CAC] on July 5, 2021, [Kanzhun] subject to cybersecurity review by the authority “,”[d]During the review period, the app “BOSS Zhipin” must suspend new user registrations in China to facilitate the process, “and Kanzhun” is planning a full investigation of cybersecurity risks and further improving his cybersecurity awareness and technology capabilities. “Based on this news Kanzhun’s American Depository Shares fell about 15%, hurting investors.

LEAD APPLICATION: The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Kanzhun securities during the class action period to seek appointment as the lead plaintiff in the Kanzhun class action. A lead plaintiff is usually the applicant with the greatest financial interest in the legal protection sought by the alleged class, which is also typical and appropriate for the alleged class. A lead plaintiff is acting on behalf of all the other group members in directing the Kanzhun class action lawsuit. The lead plaintiff can choose a law firm of their choice to bring the Kanzhun class action lawsuit. An investor’s ability to participate in a possible future collection of the Kanzhun class action lawsuit does not depend on whether or not they act as the lead plaintiff.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 attorneys in 9 offices across the country, Robbins Geller Rudman & Dowd LLP is the largest US law firm serving investors in securities class actions. Robbins Geller’s attorneys have secured many of the largest shareholder recoveries in history, including the largest securities class action of all time – $ 7.2 billion – in In re Enron Corp. Sec. Lit. The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller first for getting $ 1.6 billion back for investors last year, more than double the amount paid by any other securities plaintiff firm was drafted. More information is available at http://www.rgrdlaw.com.

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