Case Background
This is a federal securities class action on behalf of those who purchased or otherwise acquired Hepsiburada ADSs between July 1, 2021 through November 23, 2021, both dates inclusive (the “Class Period”) pursuant and/or traceable to Hepsiburada’s IPO.
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 second quarter 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 second quarter 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.
Current Status of Case:
On April 20, 2023, the Court issued an Order granting Preliminary Approval of Class Action Settlement. On August 1, 2023, a Final Settlement Hearing occurred and the Court issued an Order granting the Class Action Settlement and entered Final Judgment. This action has concluded.
The deadline to file a claim is September 27, 2023. You may find additional information regarding the terms of the settlement and claim filing process at http://www.hepsiburadasecuritieslitigation.com/ or by calling Gilardi & Co. LLC at 1-888-846-0152.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.