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New York, New York--(Newsfile Corp. - November 30, 2021) - Jakubowitz Law announces that a securities fraud class action lawsuit has commenced 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).
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This lawsuit is on behalf of persons and entities that purchased or otherwise acquired Hepsiburada American Depositary Receipts ("ADRs") pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's July 2021 initial public offering.
Shareholders interested in representing the class of wronged shareholders have until December 20, 2021 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, D-MARKET Elektronik Hizmetler ve Ticaret Anonim irketi a/k/a D-MARKET Electronic Services & Trading d/b/a/ Hepsiburada issued materially false and/or misleading statements and/or failed to disclose 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.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105823