SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Kanzhun Limited Investors – BZ
NEW YORK, August 11, 2021 / PRNewswire / – Pomerantz LLP is investigating claims on behalf of investors of Kanzhun Limited (“Kanzhun” or the “Company”) (NASDAQ: BZ). These investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation aims to determine whether Kanzhun and any of its officers and / or directors have engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
On or around June 11, 2021, Kanzhun proceeded to its initial public offering (“IPO”), issuing 48 million American Depositary Shares (“ADS”) at a price of $ 19.00 by ADS. Then on July 5, 2021, Kanzhun issued a press release titled “Kanzhun Limited Announcements Cybersecurity Review in China. “According to the Company’s statement,” in accordance with the announcement issued by the Cyberspace Administration of China on July 5, 2021, the Company is subject to a cybersecurity review by the authority. During the review period, [Kanzhun’s] The ‘BOSS Zhipin’ app is required to suspend the registration of a new user in China to facilitate the process. ”
On this news, Kanzhun’s ADS price dropped $ 5.79 per share, or 15.95%, to close at $ 30.52 per share on July 6, 2021.
The Pomerantz firm, with offices in new York, Chicago, Los Angeles, and Paris is recognized as one of the leading firms in the areas of corporate law, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz was a pioneer in the field of class actions in securities. Today, more than 80 years later, Pomerantz continues the tradition it established, fighting for the rights of victims of securities fraud, breach of fiduciary duty and professional misconduct. The firm has recovered numerous multi-million dollar damages on behalf of the members of the group. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP