Kessler Topaz Meltzer & Check, LLP Announces Deadline in Securities Fraud Class Action Lawsuit Filed against D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi a/k/a D-MARKET Electronic Services & Trading d/b/a Hepsiburada

RADNOR, Pa., Dec. 4, 2021 (GLOBE NEWSWIRE) – Law firm Kessler Topaz Meltzer & Check, LLP informs investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi a / k / a D-MARKET Electronic Services & Trading d / b / a Hepsiburada (“Hepsiburada”) (NASDAQ: HEPS). The lawsuit accuses the Company of violations of federal securities laws, including omissions and fraudulent misrepresentations in relation to its American Depositary Receipts (“ADRs”) under and / or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) contained in. issued in connection with the IPO of Hepsiburada in July 2021 (“IPO”). Hepsiburada’s materially misleading statements regarding its businesses, operations and prospects resulted in significant losses for investors.

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CLICK HERE TO SUBMIT THEIR ALL HERE LOSSES

DEADLINES OF THE LEADING COMPLAINANT: December 20, 2021

CLASS PERIOD: According to and / or understandably by July 1, 2021 IPO by October 21, 2021

CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:
James Maro, Esq. (484) 270-1453 or toll free (844) 887-9500 or email at [email protected]

HEPSIBURADA STATED MALFUNCTION
Hepsiburada operates an e-commerce platform in Turkey, which is known as the “Amazon of Turkey”. On July 1, 2021, Hepsiburada filed its prospectus on Form 424B4, which is part of the declaration of registration. In the IPO, Hepsiburada sold approximately 62,251,000 ADRs at $ 12 per ADR and received approximately $ 783 million in proceeds from the offering. The registration statement touted Hepsiburada’s alleged growth due to “meticulous execution”. In the registration declaration, the increase in the gross value of goods (“GMV”) was touted, which “relates to the total value of the sold through orders / products” [the] Platform for a Period ”, including shipping charges, but excluding other service income and transaction fees.

The story goes on

The truth about Hepsiburada was revealed on August 26, 2021 when 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, or EBITDA, were “negative TRY 188.6 million in Q2 2021 compared to a positive TRY 71.1 million in Q2 2020. . . due to the lower gross premium, which is mainly driven by investments to strengthen our position in electronics, investments to tap into 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 ”.

Following this news, Hepsiburada’s ADR price fell $ 3.05, or 25%, to close at $ 8.97 per ADR on August 26, 2021. When the class action lawsuit was filed, Hepsiburada’s ADRs were trading at just $ 5.30 per ADR, which is nearly 56. corresponds to a% decrease from the IPO price of USD 12 per ADR.

WHAT CAN I DO?
Hepsiburada investors can, by 12/20/2021 at the latest, attempt to be appointed as lead class representative by 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 to contact the company directly for more information.

CLICK HERE SIGN IN IN 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]

A video of this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/76f6f764-7c6e-4dbe-89a9-d64b45590d4e

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