Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Kanzhun Ltd. (NASDAQ: BZ) on behalf of Kanzhun stockholders. Our investigation concerns whether Kanzhun has violated the federal securities laws and/or engaged in other unlawful business practices.
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The investigation concerns whether Kanzhun and certain of its officers and/or directors have violated federal securities laws.
On or around June 11, 2021, Kanzhun conducted its initial public offering (“IPO”), issuing 48 million American Depositary Shares (“ADSs”) priced at $19.00 per ADS. Then, on July 5, 2021, Kanzhun issued a press release entitled “Kanzhun Limited Announces Cybersecurity Review in China.” According to the Company’s release, “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, [Kanzhun’s] ‘BOSS Zhipin’ app is required to suspend new user registration in China to facilitate the process.”
On this news, Kanzhun’s ADS price fell $5.79 per share, or 15.95%, to close at $30.52 per share on July 6, 2021.
If you purchased or otherwise acquired Kanzhun shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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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.