Glancy Prongay & Murray LLP Information Securities Class Motion Towards Hepsiburada (D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi a / ok / a D-MARKET Digital Companies & Buying and selling)

LOS ANGELES, October 21, 2021– (COMMERCIAL THREAD) –Glancy Prongay & Murray LLP (“GPM”), broadcasts that it has filed a category motion lawsuit in the US District Courtroom for the Southern District of New York, captioned Golden Horn Asset and Administration Ltd, c. D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi a / ok / a D-MARKET Digital Companies & Buying and selling d / b / a / Hepsiburada, et al., (Case No. 1: 21-cv-08634) on behalf of the individuals and entities who’ve bought or in any other case acquired D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi a / ok / a D-MARKET Digital Companies & Buying and selling d / b / a / Hepsiburada (“Hepsiburada” or the “Firm”) (NASDAQ: HEPS) American Depositary Receipts (“ADR” or “Shares”) in accordance with and / or traceable to the registration assertion and prospectus (collectively, the “Declaration registration ”) issued as a part of the Firm’s preliminary public providing in July 2021 (“ IPO ”or“ the “Supply”). The plaintiff is pursuing actions below Sections 11 and 15 of the Securities Act of 1933 (the “Securities Act”).

Traders are hereby knowledgeable that they’ve 60 days from this discover to suggest to the Courtroom to behave as principal plaintiff on this motion.

You probably have suffered a loss in your Hepsiburada investments or want to inquire about the potential for pursuing claims to get well your loss below federal securities legal guidelines, you’ll be able to submit your particulars to https://www.glancylaw.com/circumstances/d-market-electronic-services-trading-dba-hepsiburada/. You may as well contact Charles H. Linehan of GPM at 310-201-9150, toll free at 888-773-9224, or by e mail at [email protected] or go to our web site at www.glancylaw.com to seek out out extra about your rights.

On or about July 1, 2021, Hepsiburada accomplished its IPO, promoting roughly 62 million shares at a value of $ 12.00 per share.

On August 26, 2021, Hepsiburada introduced its monetary outcomes for the second quarter of 2021 – the quarter that ended earlier than the IPO closed – and reported that income elevated by 5.2%, reflecting “the change in GMV combine in favor of Market”. The corporate additionally reported that EBITDA was “unfavorable of TRY 188.6 million within the second quarter of 2021 in comparison with a optimistic results of TRY 71.1 million within the second quarter of 2020 … in addition to a declare elevated clients for low margin merchandise. “

Following this information, the corporate’s inventory value fell $ 3.05, or 25%, to shut at $ 8.97 per share on August 26, 2021, on unusually excessive buying and selling quantity.

At first of this motion, the corporate’s shares have been buying and selling at $ 5.30, down practically 56% from the IPO value of $ 12.00 per share.

The criticism within the motion alleges that the registration assertion was materially false and deceptive and did not state: (1) that Hepsiburada suffered a pointy deceleration in operational development and gross sales through the second quarter of 2021; (2) that, because of this, the Firm has taken sure actions to strengthen its aggressive place, specifically by investing within the digital and excessive frequency classes and by decreasing sure classes; (3) that because of the above, Hepsiburada’s income and GMV decreased within the second quarter of 2021; and (4) that because of the foregoing, the Defendants’ optimistic statements relating to the enterprise, operations and prospects of the Firm have been considerably deceptive and / or lacked affordable foundation.

Because of the acts and omissions of the defendants and the dramatic drop out there worth of the Firm’s securities, the group suffered important losses and damages.

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You probably have bought or in any other case acquired Hepsiburada shares throughout the framework and / or traceable as much as the IPO, you’ll be able to apply to the Courtroom on the newest 60 days from this discover ask the court docket to nominate you because the principal plaintiff. To be a member of the Class, you do not want to take any motion at the moment; you’ll be able to retain the companies of a lawyer of your selection or take no motion and stay an absent member of the group. If you want to know extra about this motion, or you probably have any questions relating to this announcement or your rights or pursuits in any such issues, please contact Charles H. Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, toll free at 888-773-9224, by e mail at [email protected], or go to our web site at www.glancylaw.com. If you’re making use of by e mail, please embrace your telephone quantity and the variety of shares bought.

This press launch could also be thought-about an legal professional’s commercial in sure jurisdictions below relevant legislation and moral guidelines.

See the supply model on businesswire.com: https://www.businesswire.com/information/residence/20211021006114/en/

Contacts

Glancy Prongay & Murray LLP, Los Angeles
Charles H. Linehan, 310-201-9150 or 888-773-9224
1925 Century Park East, Suite 2100
Los Angeles, California 90067
www.glancylaw.com
[email protected]

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