SAN DIEGO, Aug. 27, 2021 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by D-MARKET Electronic Services & Trading d/b/a Hepsiburada ("Hepsiburada" or the "Company") (NASDAQ: HEPS).
On or about July 21, 2021, Hepsiburada sold about 56 million shares of stock in its initial public stock offering (the "IPO") at $12 a share, raising nearly $680 million in new capital. Since the IPO the stock has plummeted, closing at $8.97 on August27, 2021.
On August 26, 2021, Hepsiburada announced its second quarter 2021 financial results, reporting that revenue grew 5.2%, the results marked a significant deceleration of the company's growth. Additionally, the Company announced it was making changes to the management team.
Specifically, Johnson Fistel's investigation seeks to determine whether the Company's filings with the U.S. Securities and Exchange Commission in connection with its July 2021 IPO and subsequent investor communications contained untrue statements of material facts or omitted to state other facts necessary to make the statements made therein not misleading concerning the Company's business, and operations.
If you have information that could assist in this investigation, including past employees and others, or if you are a Hepsiburada shareholder and are interested in learning more about the investigation, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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