The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of D-MARKET Elektronik Hizmetler ve Ticaret Anonim irketi a/k/a D-MARKET Electronic Services & Trading d/b/a/ Hepsiburada (NASDAQ: HEPS) who purchased pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s July 2021 initial public offering. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Hepsiburada lawsuit alleges that (1) Hepsiburada suffered a sharp deceleration in operational and sales growth during second quarter 2021; (2) 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; (3) as a result of the foregoing, Hepsiburada’s revenue and Gross Merchandise Value had declined during second quarter 2021; and (4) 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.
Shareholders have until December 20, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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