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