Keyla D. Bell, et al. v. Kanzhun Limited Case

The settlement funds have been distributed to claimants.

$2,250,000

Cash Settlement

D. New Jersey

Court

06/11/2021

Class period Start

07/02/2021

Class period End

02/08/2023

Claim deadline

Kanzhun 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

03/01/2023

Trades matching type

FIFO

Trusted by industry leaders

Endorsed by top professionals who trust our innovative solutions to drive impactful results.