NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi d/b/a Hepsiburada (NASDAQ: HEPS) resulting from allegations that Hepsiburada may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Hepsiburada securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to http://www.rosenlegal.com/cases-register-2175.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
WHAT IS THIS ABOUT: On or about July 1, 2021, Hepsiburada completed its initial public offering (“IPO”), selling approximately 57 million American Depositary Shares (“ADSs”) for $12.00 per ADS.
Then, on August 26, 2021, Hepsiburada announced its second quarter 2021 financial results, reporting that revenue grew 5.2%. The Company also reported “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 ADS price fell $3.05, or 25%, to close at $8.97 per ADS on August 26, 2021, significantly below the IPO price. The Company’s ADSs have continued to fall and currently trade at less than half of the IPO price.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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