San Diego, CA -- (SBWire) -- 11/04/2021 --An investor, who purchased shares of D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi (NASDAQ: HEPS), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi d/b/a/ Hepsiburada in connection with the Company's July 2021 initial public offering ("IPO" or the "Offering").
Investors who purchased a shares of D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi (NASDAQ: HEPS), have certain options and for certain investors are short and strict deadlines running. Deadline: December 20, 2021. D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi (NASDAQ: HEPS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Turkey based D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi d/b/a Hepsiburada (HEPS) operates an e-commerce platform. D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi reported that its annual Total Revenuerose from over $2.6 billion in 2019 to over $6.37 billion in 2020, and that its Net Loss increased from $131.64 million to $474.51 million over those respective time frame.
On or about July 1, 2021, D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi (NASDAQ: HEPS) completed its initial public offering ("IPO"), selling approximately 57 million American Depositary Shares ("ADSs" or "shares") for $12.00 per share.
On August 26, 2021, D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi (NASDAQ: HEPS) announced its second quarter 2021 financial results, reporting that revenue grew 5.2%. The Company also reported "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."
Since the IPO shares of D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi (NASDAQ: HEPS) declined to as low as $8.56 per share on August 27, 2021.
The plaintiff claims that the Registration Statement was materially false and misleading and omitted to state that Hepsiburada suffered a sharp deceleration in operational and sales growth during second quarter 2021, that, as a result, the Company initiated certain actions to fortify its competitive position, including investing in electronics and high frequency categories and discounting certain categories, that, as a result of the foregoing, Hepsiburada's revenue and GMV had declined during second quarter 2021, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi (NASDAQ: HEPS) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
D-MARKET Elektronik Hizmetler Ve Ticaret Anonim Sirketi (NASDAQ:HEPS) Investor Notice: Lawsuit Alleges Securities Laws Violations
A lawsuit was filed on behalf of investors in D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi (NASDAQ:HEPS) shares over alleged securities laws violations.