BENSALEM, Pa.–(BUSINESS WIRE)–$HEPS #CLASSACTION–Law Offices of Howard G. Smith announces an investigation on behalf of D-MARKET Electronic Services & Trading d/b/a Hepsiburada (“Hepsiburada” or the “Company”) (NASDAQ: HEPS) investors concerning the Company’s possible violations of federal securities laws.
On or about July 1, 2021, Hepsiburada completed its initial public offering (“IPO”), selling approximately 57 million American Depositary Shares (“ADSs” or “shares”) for $12.00 per share.
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 share price fell $3.05, or 25%, to close at $8.97 per share on August 26, 2021, significantly below the IPO price.
If you purchased Hepsiburada securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
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