NEW YORK, November 19, 2021 / PRNewswire / – Bernstein Liebhard, a Leading Investor Rights Law Firm, Reminds Investors of Deadline to File as Principal Plaintiff not later than 20 December 2021 in a securities class action suit which was filed on behalf of investors who purchased or acquired the securities of Hepsiburada (D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi a / k / a D-MARKET Electronic Services & Trading) (“Hepsiburada ”Or the“ Company ”(NASDAQ: HEPS) of July 1, 2021 through August 26, 2021 (the “Recourse Period”). The lawsuit filed in United States District Court of the Central District of California alleges violations of the Securities Act of 1934.
If you purchased Hepsiburada securities and / or wish to discuss your legal rights and options please visit Hepsiburada Shareholder Class Action Lawsuit or contact Joe seidman free of charge at (877) 779-1414 Where [email protected].
According to the complaint, Hepsiburada and the registration statement were materially false and misleading and failed to indicate: (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 taken 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 substantially misleading and / or lacked reasonable basis.
At July 1, 2021, Hepsiburada completed its IPO, selling approximately 62 million common shares for $ 1200 per share.
At August 26, 2021, Hepsiburada announced its financial results for the second quarter of 2021 – the quarter that ended before the closing of the IPO – and reported that revenues increased 5.2%, reflecting “the GMV mix change. 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 share price fell $ 3.05, or 25%, to close at $ 8.97 per share on August 26, 2021, on an unusually high volume of transactions.
At the start of this action, the Company’s shares were trading as low as $ 5.30, a decrease of nearly 56% compared to $ 12.00 IPO price per share, detrimental to investors.
If you wish to act as the principal applicant, you must apply to the Court at the latest 20 December 2021. A principal plaintiff is a representative party acting on behalf of the other members of the class to direct the litigation. Your ability to participate in any recovery does not require you to serve as the principal applicant. If you choose not to take any action, you can remain an absent group member.
If you purchased Hepsiburada securities and / or wish to discuss your legal rights and options please visit https://www.bernlieb.com/cases/hepsiburada-heps-shareholder-class-action-lawsuit-fraud-stock-447/ or contact Joe seidman free of charge at (877) 779-1414 Where [email protected].
Since 1993, Bernstein Liebhard LLP has collected more than $ 3.5 billion for its customers. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and take legal action on their behalf. Due to its success in litigating hundreds of lawsuits and class actions, the firm has been named thirteen times on the National Law Journal’s Plaintiff List and listed in The Legal 500 for ten consecutive years.
LAWYER ADVERTISING. © 2021 Bernstein Liebhard LLP. The law firm responsible for this announcement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this announcement in the State of Connecticut is Michael S. Bigin. Past results do not guarantee or predict a similar result with respect to any future matter.
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