Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
BZ.US
id: 443, Created by Stan Vick Chase, Scout
Keyla D. Bell, et al. v. Kanzhun Limited, et al.
Settled
11 June 2021
Class period Start02 July 2021
Class period End08 February 2023
Claim deadlineKanzhun Limited (BZ) agreed to pay up to $2.25 million to settle a securities class action lawsuit to avoid further litigation.
The original complaint alleged that the Company and its Leaders made false and/or misleading statements and/or failed to disclose that:
- Kanzhun would face an imminent cybersecurity review by the Cyberspace Administration of China;
- The CAC would require Kanzhun to suspend new user registration on its BOSS Zhipin app;
- Kanzhun needed to "conduct a comprehensive examination of cybersecurity risks";
- Kanzhun needed to "enhance its cybersecurity awareness and technology capabilities";
- 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.
Alleged Offence
Other
Suspected Party
Other
Security Type
Depository Securities (ADS, ADR, GDR)
Trade Direction
Long
Lead plaintiff
Keyla D. Bell
Attorney
The Rosen Law Firm, P.A. (Newark, NJ)
Court
District of New Jersey
Judge
Hon. Kevin McNulty
Court hearing date
01 March 2023
+$2,250,000
Total Settlement Amount