BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf of Kanzhun Limited (“Kanzhun” or the “Company”) (NASDAQ: BZ) investors concerning the Company and its officers’ possible violations of federal securities laws.
In June 2021, Kanzhun sold about 48 million American Depositary Shares (“ADSs” or “shares”) in its initial public offering (the “IPO”) for $19 per share, raising nearly $912 million in new capital.
On July 5, 2021, Kanzhun announced that the Company was subject to a review by the Cyberspace Administration of China and that, during the review period, Kanzhun’s “‘BOSS Zhipin’ app is required to suspend new user registration in China.”
On this news, the Company’s ADS price fell $5.79, or 16%, to close at $30.52 per share on July 6, 2021, thereby injuring investors.
If you purchased Kanzhun ADSs, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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