Lawsuit filed for Investors in shares of D-MARKET (Hepsiburada) (NASDAQ: HEPS)

An investor, who purchased shares of D-MARKET (Hepsiburada)(NASDAQ: HEPS), filed a lawsuit in the U.S. over alleged violations of Securities Laws by D-MARKET (Hepsiburada) in connection with certain allegedly false and misleading statements made in connection with the Company’s July 2021 initial public offering ("IPO" or the "Offering").

Investors who purchased a shares of D-MARKET (Hepsiburada) (NASDAQ: HEPS), have certain options and for certain investors are short and strict deadlines running. Deadline: December 20, 2021. NASDAQ: HEPS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Turkey based D-MARKET (Hepsiburada) (HEPS) operates an e-commerce platform. On or about July 1, 2021, D-MARKET (Hepsiburada) (NASDAQ: HEPS) completed its initial public offering (“IPO”), selling approximately 57 million American Depositary Shares (“ADSs” or “shares”) for $12.00 per share.

On August 26, 2021, D-MARKET (Hepsiburada) (NASDAQ: HEPS) announced its second quarter 2021 financial results, reporting that revenue grew 5.2%. The Company also reported “lower gross contribution driven primarily by investments to fortify our position in electronics, investments to penetrate in high frequency categories as well as higher customer demand for low margin products.”

Since the IPO shares of D-MARKET (Hepsiburada) (NASDAQ: HEPS) declined to as low as $8.56 per share on August 27, 2021.

According to the complaint the plaintiff alleges on behalf of purchasers of D-MARKET (Hepsiburada) (NASDAQ: HEPS) common shares, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the Registration Statement was materially false and misleading and omitted to state that Hepsiburada suffered a sharp deceleration in operational and sales growth during second quarter 2021, that, as a result, the Company initiated certain actions to fortify its competitive position, including investing in electronics and high frequency categories and discounting certain categories, that, as a result of the foregoing, Hepsiburada’s revenue and GMV had declined during second quarter 2021, and that, 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.

Those who purchased shares of D-MARKET (Hepsiburada)(NASDAQ: HEPS) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.