ALERT TO D-MARKET / HEPSIBURADA SHAREHOLDERS BY FORMER ATTORNEY GENERAL OF LOUISIANA: KAHN SWICK & FOTI, LLC REMINDERS WITH LOSSES EXCEEDING $ 100,000 from the lead plaintiff’s deadline in a class action lawsuit against D -MARKET Electronic Services & Trading d / b / a Hepsiburada
NEW ORLEANS, 22 October 2021 / PRNewswire / – Kahn Swick & Foti, LLC (âKSFâ) and partner of KSF, former attorney general of Louisiana, Charles C. Foti, Jr., remind investors that they have until 20 December 2021 file principal plaintiff’s claims in a securities class action lawsuit against D-MARKET Electronic Services & Trading (d / b / a “Hepsiburada”) (NasdaqGS: HEPS), if it purchased the American Depositary Receipts (“ADR” ) of the Company issued in connection with its July 2021 initial public offering of shares (the âIPOâ). This action is in progress in United States District Court of the Southern District of new York.
What you can do
If you have purchased D-MARKET shares as above and wish to discuss your legal rights and how this matter might affect you as well as your right to recover your economic loss, you can, without obligation or expense for you, contact KSF Managing Partner Lewis Kahn toll free at 1-877-515-1850 or by email ([emailÂ protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-heps/ to learn more. If you wish to act as the principal plaintiff in this class action, you must bring a petition to the Court by 20 December 2021.
About the trial
D-MARKET and some of its executives are accused of failing to disclose material information in its registration statement and IPO prospectus, in violation of federal securities laws.
At August 26, 2021, the company revealed that 2Q2021 revenue grew only a disappointing 5.2% and EBITDA was “negative of TRY 188.6 million in the second quarter of 2021 compared to a positive of 71 , TRY 1 million in Q2 2020 … due to lower gross contribution mainly due to investments to strengthen our position in electronics, investments to enter high frequency categories as well as increased demand for customers for low margin products. ”
Following 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 Åirketi a / k / a D-MARKET Electronic Services & Trading d / b / a / Hepsiburada, et al., N Â° 1: 21-cv-08634.
About Kahn Swick & Foti, LLC
KSF, whose partners are former Louisiana Attorney General Charles C. Foti, Jr., is one of the country’s leading securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, fund managers and retail investors – in seeking recoveries for investment losses resulting from corporate fraud or embezzlement committed by listed companies. KSF has offices at new York, California, Louisiana and New Jersey.
To learn more about KSF, you can visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis kahn, Management partner
1100, rue Poydras, suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC