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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 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”).
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.
If you purchased shares of D-MARKET as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or fill out the form on this page.
The case is Golden Horn Asset and Management Ltd, v. D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi a/k/a D-MARKET Electronic Services & Trading d/b/a/ Hepsiburada, et al., No. 1:21-cv-08634.
Click here to read the first filed complaint.