NEW YORK, Nov. 11, 2021 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP  announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of persons and entities that purchased or otherwise acquired D-MARKET
Elektronik Hizmetler ve Ticaret Anonim Şirketi a/k/a D-MARKET Electronic Services & Trading d/b/a/ Hepsiburada ("D-MARKET" or "Hepsiburada" or the "Company") (NASDAQ: HEPS) American Depositary Receipts ("ADRs" or "shares") pursuant and/or traceable to the registration statement and prospectus(collectively, the "Registration Statement") issued in connection with the Company's July 2021 initial public offering ("IPO" or the "Offering").

All investors who purchased the ADRs of D-MARKET and incurred losses are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

If you have incurred losses in the ADRs of D-MARKET., you may, no later than December 20, 2021, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the ADRs of  D-MARKET.

PLEASE CLICK HERE TO JOIN CASE

On or about July 1, 2021,  Hepsiburada completed its IPO, selling approximately 62 million shares at $12.00 per share.

On August 26, 2021, Hepsiburada announced its second quarter 2021 financial results—the quarter which had ended before the IPO closed—and reported that revenue grew 5.2%, reflecting "the shift in GMV mix in favor of Marketplace." The Company also reported 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 on August 26, 2021, on unusually heavy trading volume.

By the commencement of this action, the Company's shares were trading as low as $5.30, a nearly 56% decline from the $12.00 per share IPO price.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at  www.whafh.com.

Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected] 
Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. 

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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP