The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of FREQ, RKT and BZ
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The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of FREQ, RKT and BZ

Monday, August 2, 2021 10:00 AM
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The Klein Law Firm

NEW YORK, NY / ACCESSWIRE / August 2, 2021 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.

Frequency Therapeutics, Inc. (NASDAQ:FREQ)
Class Period: November 16, 2020 - March 22, 2021
Lead Plaintiff Deadline: August 2, 2021

According to the complaint, Frequency Therapeutics, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: the Company's Phase 2a trial results failed to live up to the Company's expectations as the results revealed no discernable difference between FX-322 and the placebo. In spite of the disappointing results, the Company continued to conduct the Phase 2a study while releasing positive statements in earnings calls, press releases, SEC filings, and pharmaceutical presentations about FX-322's potential. These statements materially misled the market and artificially inflated the value of Frequency's common stock.

Learn about your recoverable losses in FREQ: https://www.kleinstocklaw.com/pslra-1/frequency-therapeutics-inc-loss-submission-form?id=18149&from=1

Rocket Companies, Inc. (NYSE:RKT)
Class Period: February 25, 2021 - May 5, 2021
Lead Plaintiff Deadline: August 30, 2021

The complaint alleges Rocket Companies, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) Rocket's gain on sale margins were contracting at the highest rate in two years as a result of increased competition among mortgage lenders, an unfavorable shift toward the lower margin Partner Network operating segment and compression in the price spread between the primary and secondary mortgage markets; (b) Rocket was engaged in a price war and battle for market share with its primary competitors in the wholesale market, which was further compressing margins in Rocket's Partner Network operating segment; (c) the adverse trends identified above were accelerating and, as a result, Rocket's gain on sale margins were on track to plummet at least 140 basis points in the first six months of 2021; (d) as a result of the above, the favorable market conditions that had preceded the Class Period and allowed Rocket to achieve historically high gain on sale margins had vanished as the Company's gain on sale margins had returned to levels not seen since the first quarter of 2019; (e) rather than remaining elevated due to surging demand, Rocket's Company-wide gain-on-sale margins had fallen materially below recent historical averages; and (f) as a result of the foregoing, defendants' positive statements about the Company's business operations and prospects were materially misleading and/or lacked a reasonable basis.

Learn about your recoverable losses in RKT: https://www.kleinstocklaw.com/pslra-1/rocket-companies-inc-loss-submission-form?id=18149&from=1

Kanzhun Limited (NASDAQ:BZ)
Class Period: June 11, 2021 - July 2, 2021
Lead Plaintiff Deadline: September 10, 2021

According to the complaint, Kanzhun Limited allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) Kanzhun would face an imminent cybersecurity review by the Cyberspace Administration of China ("CAC"); (2) the CAC would require Kanzhun to suspend new user registration on its BOSS Zhipin app; (3) Kanzhun needed to "to conduct a comprehensive examination of cybersecurity risks"; (4) Kanzhun needed to "enhance its cybersecurity awareness and technology capabilities"; and (5) 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.

Learn about your recoverable losses in BZ: https://www.kleinstocklaw.com/pslra-1/kanzhun-limited-loss-submission-form?id=18149&from=1

Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.

J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
[email protected]
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com

SOURCE: The Klein Law Firm

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