- August 27, 2021
- Posted by: Mainframe Consulting
- Category: Business Wire
LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces an investigation of D-MARKET Electronic Services & Trading d/b/a Hepsiburada (“Hepsiburada” or the “Company”) (NASDAQ: HEPS) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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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.
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If you purchased Hepsiburada ADSs, 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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Published at Fri, 27 Aug 2021 08:15:00 +0000