The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of those who acquired Kanzhun Limited (“Kanzhun” or the “Company”) (NASDAQ: BZ) American Depositary Shares (“ADSs”) from June 11, 2021 through July 2, 2021, inclusive (the “Class Period”). Investors have until September 10, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
In June 2021, Kanzhun sold about 48 million ADS in its initial public offering (the “IPO”) for $19 per share, raising nearly $912 million in new capital.
On July 5, 2021, Kanzhun announced that the Company was subject to a review by the Cyberspace Administration of China and that, during the review period, Kanzhun’s “‘BOSS Zhipin’ app is required to suspend new user registration in China.”
On this news, the Company’s ADS price declined by $5.79 per ADS, or approximately 16%, from $36.31 per ADS on July 2, 2021 to close at $30.52 per ADS on July 6, 2021, thereby injuring investors.
If you purchased or otherwise acquired Kanzhun ADSs, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at email@example.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.