Kanzhun Limited Investors: Company Investigated by the Portnoy Law Firm
LOS ANGELES, July 22, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Kanzhun Limited (“Kanzhun” or the “Company”) (NASDAQ: BZ) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: email@example.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Kanzhun conducted its initial public offering on or around June 11, 2021, issuing 48 million American Depositary Shares (“ADSs”) priced at $19.00 per ADS. Then, on July 5, 2021, a press release was issued by Kanzhun entitled “Kanzhun Limited Announces Cybersecurity Review in China.” According to the Oatly’s release, “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, [Kanzhun’s] ‘BOSS Zhipin’ app is required to suspend new user registration in China to facilitate the process.”
Kanzhun’s ADS price fell $5.79 per share, or 15.95%, on this news, to close at $30.52 per share on July 6, 2021.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar