Hepsiburada announces finalization of class actions, former CCO Buyumez leaves

Hepsiburada announced the finalization of the class actions and changes to its executive management team…As disclosed previously, the Company was a defendant in dual-track class action lawsuits, namely, the action filed on September 28 with the lead plaintiff IWA-Forest Industry Pension Plan, before the United States District Court, Southern District of New York under the case no: 1:21-cv-08634-PKC ; and the action filed on October 21, 2021, before the State Court under the case no. 655701/2021 . The Company had reached a settlement with the Plaintiffs of both the Federal Action and the State Action , subject to an approval and/or entry of judgment of the respective courts regarding the stipulation of the Settlement. The Federal Action was finally concluded on August 1, 2023 with the order and final judgment of the Federal Court approving the settlement. The Company announces that on September 22, 2023 the State Action is dismissed by the State Court with prejudice and the appeal period regarding the State Action has now expired. As a result, both the Federal Action and the State Action have been finally resolved without admission of any wrongdoing. Company’s former Chief Commercial Officer CCO Mr. Murat Buyumez, who had taken a leave of absence, has decided to step down from his position effective October 20 . Mr. Ender Ozgun will continue to serve under the title of the CCO. The marketing department previously reporting to the CCO is reorganized to report to the Chief Executive Officer.