Trending...
- Wagga Trucks set to expand to the Canberra Region as authorised dealer for Volvo, UD & Mack along with Freighter Group Trailers
- Detained at 95: South Korea's Prosecution of a Religious Leader Draws International Alarm
- UK Financial Ltd. Opens Test-Phase Maya 3 Liquidity Pool on Uniswap with DEX Screener Visibility for Market-Smoothing Ahead of CATEX Exchange Launch
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
- Philadelphia's Own Reverend Jamie Knight Returns with "Award-Winning Love
- Kolbus Introduces the Next Step in Casemaking Efficiency
- Florida Law Advisers, P.A. Named Best Divorce Firm of 2026 by Expert Law Attorneys
- Sounds of LA County: 27 Parks.108 Concerts. One County
- Only One Flight Stands Between Los Angeles Youth Leaders and a Life-Saving Mission in South Africa
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
- Blueshirt Media Joins the Dazos Partner Program, Expanding HIPAA-Compliant AI Admissions Support for Behavioral Health Organizations
- Stigma Across Borders: Concerns Grow Over Discrimination Against Shincheonji Members Abroad
- Roohid Parast, J&J Scientist, Comments on New Psoriasis Biomarker Study
- World Cup Crowds Are a Stress Test for America's Restrooms
- Postmortem Pathology Expands Access to Private Autopsy Services in Las Vegas
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
- AutomationIQ Launches to Bring Enterprise-Grade AI Automation to Local and Mid-Market Businesses
- Texas Hospitals & Their Patients Describe Two Very Different Healthcare Systems, New Social Knowing
- DEPIN Studios Sees Surge in Demand After AI Gaming Launch
- Discard Junk Removal Named #1 Junk Removal Company in Sacramento Out of 189 Businesses Evaluated
- J&J Exterminating Mourns the Passing of Founder Bobby John Sr
- Delirious Comedy Club Transforms Into Las Vegas' Newest Live Comedy Studio With Weekly Delirious TV Tapings
- BitTitan Advances MigrationWiz with New Capabilities, Platform Enhancements, and Product Leadership Update
- Sara Abbas Receives "Eniochos" Charioteer Award at 2026 Who is Who International Awards
- Detained at 95: South Korea's Prosecution of a Religious Leader Draws International Alarm
- CCHR: DOJ Takedown Exposes Over $220 Million Defrauded in Behavioral Mental Health Fraud Schemes
- Exeter Smiles Encourages Reading Families to Start Teen Braces This Summer
- ARC Technologies Announces Corporate Asset Sale of buildings, inventory and IP patents
- Lady Liberty Is Coming Home: Historic WWII A-26 Invader Begins Her Final Journey to the Tulsa Air & Space Museum
- The Lashe Announces Limited-Time Sale on Professional Premade Fan Lash Extension Trays
- PropAccount.com Adds Prediction Markets to Its Multi-Asset Prop Firm Platform
- ToyLookup.com Launches AI-Powered Platform to Help Collectors Identify Vintage and Modern Toys
- Rising star Hip-Hop and R&B Force Della Drops Highly Anticipated New Single, "Throw It"
- UK Financial Ltd. Opens Test-Phase Maya 3 Liquidity Pool on Uniswap with DEX Screener Visibility for Market-Smoothing Ahead of CATEX Exchange Launch
- From DECA Finalist to Translational Scientist: Roohid Parast on Business Training in Biopharma
- Wagga Trucks set to expand to the Canberra Region as authorised dealer for Volvo, UD & Mack along with Freighter Group Trailers