The law firm of Kessler Topaz Meltzer & Check, LLP informs investors that a securities class action lawsuit has been filed against D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi a/k/a D-MARKET Electronic Services & Trading d/b/a Hepsiburada .
The Registration Statement touted Hepsiburada’s purported growth attributable to “meticulous execution.” The Registration Statement also touted the increase in gross merchandise value , which “refers to the total value of orders/products sold through platform over a given period of time,” including shipping fees but excluding other service revenues and transaction fees.
The truth regarding Hepsiburada was revealed on August 26, 2021, when it announced its second quarter 2021 financial results reporting that earnings before interest, taxes, depreciation, and amortization, or EBITDA, was “negative TRY 188.6 million in Q2 2021 compared to positive TRY 71.1 million in Q2 2020 .
Following this news, Hepsiburada’s ADR price fell $3.05, or 25%, to close at $8.97 per ADR on August 26, 2021.
The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors.
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