BZ.US
id: 443
Keyla D. Bell, et al. v. Kanzhun Limited Case
D. New Jersey
Court11 Jun 2021
Class period Start02 Jul 2021
Class period End08 Feb 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.
Case Status
Disbursed
Alleged Offence
Other
Suspected Party
Other
Security Type
Depository Securities (ADS, ADR, GDR)
Trade Direction
Long
Plaintiffs
Keyla D. Bell
Attorneys
The Rosen Law Firm, P.A. (Newark, NJ)
Judge
Hon. Kevin McNulty
Court hearing date
01 March 2023
Trades matching type
FIFO
+$2,250,000
Cash Settlement Amount