NEW ORLEANS, Dec. 15, 2021 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have untilDecember 20, 2021 to file lead plaintiff applications in a securities class action lawsuit against D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada") (NasdaqGS: HEPS), if they purchased the Company's American Depositary Receipts ("ADRs") issued in connection with its July 2021 initial public stock offering (the "IPO"). This action is pending in the United States District Court for the Southern District of New York.
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D-MARKET investors should visit us at https://claimsfiler.com/cases/nasdaq-heps or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
D-MARKET and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement and Prospectus, violating federal securities laws.
On August 26, 2021, the Company disclosed that revenue for 2Q2021 grew only a disappointing 5.2% and that 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."
On this news, the Company's share price fell $3.05, or 25%, to close at $8.97 per share.
The case is Golden Horn Asset and Management Ltd, v. D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi a/k/a D-MARKET Electronic Services & Trading d/b/a/ Hepsiburada, et al., No. 1:21-cv-08634.
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ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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