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HEPS.US

D-MARKET Electronic Services & Trading (HEPS) $13.9M Investor Settlement

Claim deadline for this case already passed by, but we can still try and file for compensation for you
S.D. New York
Court
1:21-cv-08634
Case number
01 Jul 2021
Class period Start
23 Nov 2021
Class period End
27 Sept 2023
Claim deadline
D-MARKET Electronic Services & Trading (HEPS) settles $13.9M with Investors.

The Complaint alleges that the Registration Statement was materially false and misleading and omitted to state:
  1. that Hepsiburada suffered a sharp deceleration in operational and sales growth during the second quarter of 2021;
  2. that, as a result, the Company initiated certain actions to fortify its competitive position, including investing in electronics and high-frequency categories and discounting certain categories;
  3. that, as a result of the foregoing, Hepsiburada’s revenue and GMV had declined during the second quarter of 2021; and
  4. that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.15
Filing date
21 October 2021
Plaintiffs
IWA-Forest Industry Pension Plan
Attorneys
Kaplan Fox & Kilsheimer LLP, Robbins Geller Rudman & Dowd LLP
Defendants
Hanzade Vasfiye Doğan Boyner, Mehmet Murat Emirdağ, Halil Korhan Öz, Erman Kalkandelen, Mehmet Erol Çamur, Cemal Ahmet Bozer, Vuslat Doğan Sabanci, Mustafa Aydemir, Tolga Babali, Tayfun Bayazit
Judge
Hon. P. Kevin Castel
Administrator
Gilardi & Co LLC
Court hearing date
01 August 2023
Exclusion deadline
10 July 2023
Objection deadline
18 July 2023
Hearing deadline
18 July 2023
Trades matching type
FIFO
+$13,900,000
Total Settlement Amount
Created by Stan Vick, Scout

D-MARKET Electronic Services & Trading ADR

D-Market Elektronik Hizmetler ve Ticaret A.S. operates e-commerce platforms in Turkey. The company operates www.hepsiburada.com, a retail website that provides its retail customers a range of merch...

    Ticker
    HEPS.US
    ISIN
    US23292B1044
    CIK
    1850235
    Sector
    Consumer Cyclical
    Industry
    Internet Retail
    Country
    USA
    Address
    Kustepe Mahallesi, MecidiyekOey, Istanbul, Turkey, 34387