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BZ.US
id: 443

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