SAN DIEGO, July 6, 2021 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against Kanzhun Limited (NASDAQ: BZ) ("Kanzhun" or the "Company") for violations of federal securities laws.
On or about June 22, 2021, Kanzhun sold about 48 million shares of stock in its initial public stock offering (the "IPO") at $19 a share, raising nearly $912 million in new capital.
Then on July 5, 2021, Kanzhun reported: "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, 'BOSS Zhipin' app is required to suspend new user registration in China to facilitate the process."
Following this news, on July 6, 2021, in early morning trading, Kanzhun stock was trading down over 10%.
Specifically, Johnson Fistel's investigation seeks to determine whether the Company's filings with the U.S. Securities and Exchange Commission in connection with its June 2021 IPO and subsequent investor communications contained untrue statements of material facts or omitted to state other facts necessary to make the statements made therein not misleading concerning the Company's business, and operations.
If you have information that could assist in this investigation, or if you are a Kanzhun shareholder and are interested in learning more about the investigation, please contact Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP
