NEW YORK, Dec. 2, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of D-MARKET Electronic Services & Trading ("D-MARKET" or the "Company") (NASDAQ: HEPS). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether D-MARKET and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or about July 1, 2021, D-MARKET 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, D-MARKET 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.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com