Kessler Topaz Meltzer & Check, LLP Reminds Investors of Deadline for Securities Fraud Class Action Lawsuit Filed Against Kanzhun Limited | State
RADNOR, Pa., July 23, 2021 / PRNewswire / – Law firm Kessler Topaz Meltzer & Check, LLP reminds investors that a securities fraud class action has been filed against Kanzhun Limited (NASDAQ: BZ) (“Kanzhun”) on behalf of those who Kanzhun. bought or acquired securities in between June 11, 2021 and July 2, 2021, including (the “Class Period”).
Deadline Reminder: Investors who have bought or acquired Kanzhun securities during the class period, not later than September 10, 2021to be appointed as the group’s lead plaintiff. For more information or to learn how to participate in this litigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453; toll free at (844) 887-9500; per email to firstname.lastname@example.org; or Click on https://www.ktmc.com/kanzhun-limited-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=kanzhun
Kanzhun operates an online recruiting platform, BOSS Zhipin, a mobile-native product that promotes instant direct chats between employers and job seekers, delivers consistent results, and is based on proprietary artificial intelligence algorithms and big data insights.
on June 23, 2021, Kanzhun filed its final prospectus for its initial public offering on Form 424B4, which is part of the registration statement. When Kanzhun went public, it sold around 48,000,000 American Depositary Shares (“ADSs”) $ 19.00 per ADS.
The complaint alleges that the registration statement is the cyberspace administration of China (“CAC”) Positions and discussions with Kanzhun regarding his data security and cybersecurity issues.
The truth was revealed on July 5, 2021when Kanzhun issued a press release entitled “KANZHUN LIMITED Announces Cybersecurity Review in China“That partially announced that Kanzhun” had the cybersecurity clearance by the. subject [CAC]. During the verification period, the ‘BOSS Zhipin’ app is required to suspend the registration of new users in China to make the process easier. “
After this news, the Kanzhun ADS price fell $ 5.79 per ADS or 15% until graduation $ 30.52 per ADS July 6, 2021, on the next trading day.
The complaint alleges that defendants have provided false and / or misleading information and / or failed to disclose the following in the registration statement and throughout the collection period: (1) Kanzhun would face an imminent cybersecurity review by the CAC; (2) the CAC would require Kanzhun to block new users from registering on its BOSS Zhipin app; (3) Kanzhun must “conduct a comprehensive investigation into cybersecurity risks”; (4) Kanzhun needed to “improve his cybersecurity awareness and technological capabilities”; and (5) as a result, Defendants’ statements about its business, operations and prospects have been materially false and misleading and / or unfounded at all relevant times.
Kanzhun Investors can not later than September 10, 2021, attempt to be appointed as lead class representative by Kessler Topaz Meltzer & Check, LLP, or other legal counsel, or they may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in the conduct of the dispute. To be appointed as a lead plaintiff, the court must determine that the class plaintiff’s claim is typical of the claims of other class plaintiffs and that the class plaintiff is adequately representing the class action. Your ability to participate in a recovery will not be affected by whether or not you want to be the lead plaintiff.
Kessler Topaz Meltzer & Check, LLP pursues class actions in state and federal courts across the country involving securities fraud, fiduciary violations, and other violations of state and federal laws. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, recovering billions of dollars on behalf of institutional and private investors The United States and all over the world. The firm represents investors, consumers and whistleblowers (individuals who report fraudulent practices to the government and participate in recovery of government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
Kessler Topas Meltzer & Check, LLP
James Maro, Jr., Esq.
Radnor, PA 19087
(844) 887-9500 (toll free)
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