The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the District of New Jersey on behalf of shareholders of Kanzhun Limited who purchased shares between June 11, 2021 and July 2, 2021.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that:
(1) Kanzhun would face an imminent cybersecurity review by the Chinese government (“CAC”); (2) the CAC would require Kanzhun to suspend new user registration on its BOSS Zhipin app; (3) Kanzhun needed to “to conduct a comprehensive examination of cybersecurity risks”; (4) Kanzhun needed to “enhance its cybersecurity awareness and technology capabilities”; and (5) 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.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until September 10, 2021 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.