Kessler Topaz Meltzer & Check, LLP Reminds Investors of December 20, 2021 Deadline in Securities Fraud Class Action Lawsuit

CLICK HERE TO SUBMIT YOUR HEPSIBURADA LOSSES

DEADLINES OF THE LEADING APPLICANT: December 20, 2021

CLASS PERIOD: According to and / or traceable to July 1, 2021 IPO through October 21, 2021

CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:

James Maro, Esq. (484) 270-1453 or Duty free (844) 887-9500 or email at [email protected]

HEPSIBURADA STATED MALFUNCTION

Hepsiburada operates an e-commerce platform in Turkey, is considered the “Amazon of Turkey.” On July 1, 2021, Hepsiburada filed its prospectus on Form 424B4, which is part of the declaration of registration. When it went public, Hepsiburada sold around 62,251,000 ADRs at a price of $ 12 per ADR and received proceeds of approx. $ 783 million from the offer. The registration statement touted Hepsiburada’s alleged growth due to “meticulous execution”. The registration statement also touted the increase in gross value of goods (“GMV”), which “refers to the total value of orders / products that have been over-sold”. [the] Platform for a Period “, including shipping charges, but excluding other service revenue and transaction fees.

The truth about Hepsiburada was revealed on August 26, 2021when it announced its financial results for the second quarter of 2021 (the quarter that ended before the IPO closed) that earnings before interest, taxes, depreciation, and amortization (EBITDA) were “negative TRY 188.6 million for the second quarter of 2021 compared to positive TRY “was 71.1 million in the second quarter of 2020. . . due to lower gross premium, mainly driven by investments to strengthen our position in electronics, investments to penetrate high frequency categories, and increased customer demand for low margin products. “The company also reported a” shift in the GMV mix in favor of the Marketplace. ”

After this news, the Hepsiburada ADR price fell $ 3.05, or 25% to close around $ 8.97 per ADR August 26, 2021. At the time of filing the class action lawsuit, Hepsiburada’s ADRs were as low as traded $ 5.30 per ADR, a decrease of nearly 56% from that $ 12 per ADR IPO price.

WHAT CAN I DO?

Hepsiburada investors can no later than December 20, 2021, seek to be appointed as the lead class agent through Kessler Topaz Meltzer & Check, LLP, or other legal counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Hepsiburada investors who have suffered significant losses, contact the company directly for more information.

CLICK HERE TO SIGN UP FOR THE CASE

Who can be a lead plaintiff?

A lead plaintiff is a representative party who acts on behalf of each of the class plaintiffs in the conduct of the dispute. The main plaintiff is usually the investor or small group of investors who have the greatest financial interest and who are also appropriate and typical of the proposed class of investors. The lead plaintiff selects an attorney to represent the lead plaintiff and the group, and those attorneys, if approved by the court, are lead or class plaintiffs. Your ability to participate in a recovery will not be affected by whether or not you will be the lead plaintiff.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP

Kessler Topaz Meltzer & Check, LLP pursues class action lawsuits in state and federal courts across the country and worldwide. The company has earned a worldwide reputation for excellence and reclaimed millions of dollars for victims of corporate fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by companies and trustees. Ultimately, we succeeded if the bad guys pay and you get your wealth back. The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

CONTACT:

Kessler Topas Meltzer & Check, LLP
James Maro, Jr., Esq.
280 König-von-Preußen-Strasse
Radnor, PA 19087
(844) 887-9500 (toll free)
[email protected]

SOURCE Kessler Topaz Meltzer & Check, LLP