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HEPS.US
id: 685, Created by Stan Vick Chase, Scout
D-MARKET Electronic Services & Trading (HEPS) Investors $13.9M Settlement
Pending settlement
How it works?
- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
- No credit-card required
01 July 2021
Class period Start23 November 2021
Class period End27 September 2023
Claim deadlineHow it works?
- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
- No credit-card required
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:
- that Hepsiburada suffered a sharp deceleration in operational and sales growth during the second quarter of 2021;
- 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;
- that, as a result of the foregoing, Hepsiburada’s revenue and GMV had declined during the second quarter of 2021; and
- 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
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Case number
21-CV-08634
Filing date
21 October 2021
Lead plaintiff
IWA-Forest Industry Pension Plan
Attorney
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
Court
Southern District of New York
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
+$13,900,000
Total Settlement Amount