Trending...
- Equipment Leases, Inc. Launches Updated Family Office Equipment Financing Page
- Haven Media Solutions Offers Web Design and PPC Services in Atlanta GA
- Expanding Access to Mental Health Care in Toronto with Dr. Stephen Shainbart
RADNOR, Pa., Nov. 24, 2021 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP informs investors that a securities class action lawsuit has been filed 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 action charges the company with violations of the federal securities laws, including omissions and fraudulent misrepresentations involving its American Depositary Receipts ("ADRs") pursuant and/or traceable to the registration statement and prospectus (collectively, the "Registration Statement") issued in connection with Hepsiburada's July 2021 initial public offering ("IPO"). Hepsiburada's materially misleading statements regarding their business, operations, and prospects caused investors to suffer significant losses.
CANNOT VIEW THIS VIDEO? PLEASE CLICK HERE
CLICK HERE TO SUBMIT YOUR HEPSIBURADA LOSSES
LEAD PLAINTIFF DEADLINE: December 20, 2021
CLASS PERIOD: Pursuant and/or Traceable to July 1, 2021 IPO through October 21, 2021
CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:
James Maro, Esq. (484) 270-1453 or Toll Free (844) 887-9500 or Email at [email protected]
HEPSIBURADA'S ALLEGED MISCONDUCT
Hepsiburada operates an ecommerce platform in Turkey, regarded as the "Amazon of Turkey." On July 1, 2021, Hepsiburada filed its prospectus on a Form 424B4, which forms part of the Registration Statement. In the IPO, Hepsiburada sold approximately 62,251,000 ADRs at a price of $12 per ADR and received proceeds of approximately $783 million from the Offering. The Registration Statement touted Hepsiburada's purported growth attributable to "meticulous execution." The Registration Statement also touted the increase in gross merchandise value ("GMV"), which "refers to the total value of orders/products sold through [the] platform over a given period of time," including shipping fees but excluding other service revenues and transaction fees.
More on The PennZone
The truth regarding Hepsiburada was revealed on August 26, 2021, when it announced its second quarter 2021 financial results (the quarter which had ended before the IPO closed) reporting that earnings before interest, taxes, depreciation, and amortization, or EBITDA, was "negative TRY 188.6 million in Q2 2021 compared to positive TRY 71.1 million in Q2 2020 . . . due to 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." The company also reported a "shift in GMV mix in favor of Marketplace."
Following this news, Hepsiburada's ADR price fell $3.05, or 25%, to close at $8.97 per ADR on August 26, 2021. At the time the class action lawsuit was filed, Hepsiburada's ADRs were trading as low as $5.30 per ADR, a nearly 56% decline from the $12 per ADR IPO price.
WHAT CAN I DO?
Hepsiburada investors may, no later than December 20, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other 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 firm directly to acquire more information.
CLICK HERE TO SIGN UP FOR THE CASE
WHO CAN BE A LEAD PLAINTIFF?
More on The PennZone
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of 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 businesses and fiduciaries. At the end of the day, we have succeeded if the bad guys pay up, and if you recover your assets. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
(844) 887-9500 (toll free)
[email protected]
SOURCE Kessler Topaz Meltzer & Check, LLP
Related Links
http://www.ktmc.com
CANNOT VIEW THIS VIDEO? PLEASE CLICK HERE
CLICK HERE TO SUBMIT YOUR HEPSIBURADA LOSSES
LEAD PLAINTIFF DEADLINE: December 20, 2021
CLASS PERIOD: Pursuant and/or Traceable to July 1, 2021 IPO through October 21, 2021
CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:
James Maro, Esq. (484) 270-1453 or Toll Free (844) 887-9500 or Email at [email protected]
HEPSIBURADA'S ALLEGED MISCONDUCT
Hepsiburada operates an ecommerce platform in Turkey, regarded as the "Amazon of Turkey." On July 1, 2021, Hepsiburada filed its prospectus on a Form 424B4, which forms part of the Registration Statement. In the IPO, Hepsiburada sold approximately 62,251,000 ADRs at a price of $12 per ADR and received proceeds of approximately $783 million from the Offering. The Registration Statement touted Hepsiburada's purported growth attributable to "meticulous execution." The Registration Statement also touted the increase in gross merchandise value ("GMV"), which "refers to the total value of orders/products sold through [the] platform over a given period of time," including shipping fees but excluding other service revenues and transaction fees.
More on The PennZone
- Top 5 Most Reliable Used Vans in the UK in 2026
- Dominican Fashion Designer Raiza Bonaparte presents the Sovereign Despampanante Collection at the Library of Congress
- Roohid Parast on How AI Is Changing What Bench Scientists Can Do
- What Happens When Congress Says No? New Book Examines the Boland Amendments, Iran-Contra Affair & Jamaican Posse, as US Congress Debate Over Military
- Warm, Dry Summer Forecast Points to a Stronger Wasp and Yellowjacket Season Across the Pacific Northwest
The truth regarding Hepsiburada was revealed on August 26, 2021, when it announced its second quarter 2021 financial results (the quarter which had ended before the IPO closed) reporting that earnings before interest, taxes, depreciation, and amortization, or EBITDA, was "negative TRY 188.6 million in Q2 2021 compared to positive TRY 71.1 million in Q2 2020 . . . due to 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." The company also reported a "shift in GMV mix in favor of Marketplace."
Following this news, Hepsiburada's ADR price fell $3.05, or 25%, to close at $8.97 per ADR on August 26, 2021. At the time the class action lawsuit was filed, Hepsiburada's ADRs were trading as low as $5.30 per ADR, a nearly 56% decline from the $12 per ADR IPO price.
WHAT CAN I DO?
Hepsiburada investors may, no later than December 20, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other 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 firm directly to acquire more information.
CLICK HERE TO SIGN UP FOR THE CASE
WHO CAN BE A LEAD PLAINTIFF?
More on The PennZone
- Qscription Technologies Appoints Anurag Velekkatt Sunil Kumar to Drive Enterprise Scale
- SafeBets Named Presenting Sponsor of IMCX 2026, Bringing Its No-Deposit Prediction Platform to the Creator Economy's Deal-Making Conference
- Turnstone Creative's Ashley Russo Serves as Emcee for United Way's 2026 NERC and Women's Summit
- A New Pulse for Cardiac Care in Baltimore: St. Elizabeth Rehab & Nursing Welcomes Dr. Hakim Uqdah and Expands Advanced Heart Program
- Lighthouse 153 Brings Fresh Seafood, Craft Beer, and Coastal Charm to Downtown Hanover This Summer
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of 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 businesses and fiduciaries. At the end of the day, we have succeeded if the bad guys pay up, and if you recover your assets. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
(844) 887-9500 (toll free)
[email protected]
SOURCE Kessler Topaz Meltzer & Check, LLP
Related Links
http://www.ktmc.com
Filed Under: Business
0 Comments
Latest on The PennZone
- CAPHRA: Australia and Thailand show nicotine prohibition fuels illicit markets
- Custom Disposables - Wholesale Packaging Solutions for restaurants, food chains, and food distributors
- California Security Glass is an affordable bulletproof glass installation company in LA serving a variety of neighboring cities
- Allstream Energy Partners Announce Media Partnership with the 2026 EPC Show - The Energy Projects Conference
- STO Foundation Launching June 29, 2026 to Advance the Global Tokenization Industry
- West Virginia Leaders Announce Support for Election Integrity Network's Model Election Laws Handbook
- CCHR Condemns Behavioral Treatment After FDA's Missed Deadline to Ban Shock Device
- Brilliant Minds to Gather in Fort Worth for National Mensa Event
- UK Financial Ltd Completes One Of The Most Extensive CoinMarketCap Supply Verification Packages For Maya Preferred PRA (MPRA)
- Data Tiles Strengthens U.S. Presence with Chief Revenue Officer John Goode
- Haven Media Solutions Offers Web Design and PPC Services in Atlanta GA
- TREND Network Announces Miami Based Reality Series "Coming Up Miami" Premiering July 1
- Beemok Hospitality Collection And KLH Group Announce Preferred Partnership
- Expanding Access to Mental Health Care in Toronto with Dr. Stephen Shainbart
- Dr. Stephen Shainbart Launches Expanded Mental Health Support for Anxiety and Depression in Toronto
- Equipment Leases, Inc. Launches Updated Family Office Equipment Financing Page
- The $5 Million Man Still Begging: Incumbent Jimmy Panetta Hits Up Voters for More Cash Despite Massive War Chest
- Kevin Francis Design Introduces CHROMA, a Collection of Saturated Solid Color Wool Rugs
- $150+ Million Contracted Backlog, Strategic Acquisitions Adding Millions In Recurring Revenue, Improving Margins & A Clear Path Toward Profitability
- Record Revenue Growth, AI-Driven Healthcare Innovation, Expanding Proprietary Brand and Targeting $200 Million Revenue By 2029: Cosmos Health Inc