Glancy Prongay & Murray LLP Files Securities Class Action Against Hepsiburada (D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi a / k / a D-MARKET Electronic Services & Trading)

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LOS ANGELES, October 21, 2021– (BUSINESS WIRE) – Glancy Prongay & Murray LLP (“GPM”) Announces Class Action Lawsuit in United States District Court for the Southern District of New York, captioned Golden Horn Asset and Management Ltd, c. D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi a / k / a D-MARKET Electronic Services & Trading d / b / a / Hepsiburada, et al., (Case No. 1: 21-cv-08634) on behalf of the persons and entities who have purchased or otherwise acquired D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi a / k / a D-MARKET Electronic Services & Trading d / b / a / Hepsiburada (“Hepsiburada” or the “Company”) (NASDAQ: HEPS) American Depositary Receipts (“ADR” or “Shares”) in accordance with and / or traceable to the registration statement and prospectus (collectively, the “Declaration registration “) issued in connection with the Company’s initial public offering in July 2021 (” IPO “or” the “Offer”). The plaintiff is pursuing actions under Sections 11 and 15 of the Securities Act of 1933 (the “Securities Act”).

Investors are hereby informed that they have 60 days from this notice to propose to the Court to act as principal plaintiff in this action.

If you have suffered a loss on your Hepsiburada investments or would like to inquire about the possibility of pursuing claims to recover your loss under federal securities laws, you can submit your details at https: // www.glancylaw.com/cases/d-market -services-electroniques-commerce-dba-hepsiburada /. You can also contact Charles H. Linehan of GPM at 310-201-9150, toll free at 888-773-9224, or by email at [email protected] or visit our website at www.glancylaw.com to find out. more about your rights.

On or around July 1, 2021, Hepsiburada completed its IPO, selling approximately 62 million shares at a price of $ 12.00 per share.

On August 26, 2021, Hepsiburada announced its financial results for the second quarter of 2021 – the quarter that ended before the IPO closed – and reported that revenue increased by 5.2%, reflecting “the change in GMV mix in favor of Marketplace”. The company also reported that EBITDA was “negative of TRY 188.6 million in the second quarter of 2021 compared to a positive result of TRY 71.1 million in the second quarter of 2020 … as well as a claim increased customers for low margin products. “

Following this news, the company’s stock price fell $ 3.05, or 25%, to close at $ 8.97 per share on August 26, 2021, on unusually high trading volume.

At the start of this action, the company’s shares were trading at $ 5.30, down nearly 56% from the IPO price of $ 12.00 per share.

The complaint in the action alleges that the registration statement was materially false and misleading and failed to state: (1) that Hepsiburada suffered a sharp deceleration in operational growth and sales during the second quarter of 2021; (2) that, as a result, the Company has launched certain actions to strengthen its competitive position, in particular by investing in the electronic and high frequency categories and by reducing certain categories; (3) that due to the above, Hepsiburada’s revenue and GMV decreased in the second quarter of 2021; and (4) that as a result of the foregoing, the Defendants’ positive statements regarding the business, operations and prospects of the Company were materially misleading and / or lacked reasonable basis.

Due to the acts and omissions of the defendants and the dramatic drop in the market value of the Company’s securities, the group suffered significant losses and damages.

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If you have purchased or otherwise acquired Hepsiburada shares within the framework and / or traceable up to the IPO, you can apply to the Court at the latest 60 days from this notice ask the court to appoint you as the principal plaintiff. To be a member of the Class, you do not need to take any action at this time; you can retain the services of a lawyer of your choice or take no action and remain an absent member of the group. If you would like to know more about this action, or if you have any questions regarding this announcement or your rights or interests in any such matters, please contact Charles H. Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, toll free at 888-773-9224, by email at [email protected], or visit our website at www.glancylaw.com. If you are applying by email, please include your phone number and the number of shares purchased.

This press release may be considered an attorney’s advertisement in certain jurisdictions under applicable law and ethical rules.

View the source version on businesswire.com: https://www.businesswire.com/news/home/20211021006114/en/

Contacts

Glancy Prongay & Murray LLP, Los Angeles
Charles H. Linehan, 310-201-9150 or 888-773-9224
1925 Century Park East, Suite 2100
Los Angeles, California 90067
www.glancylaw.com
[email protected]



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