They agree $13.9 million for the lawsuits filed against Hepsiburada

Hepsiburada agreed to $13.9 million to drop the two lawsuits filed against him.

After Hepsiburada went public on the Nasdaq stock exchange in July last year, lawsuits were filed against company executives, main shareholder TurkCommerce BV, which sold the shares, and the institutions that mediated the public offering.

The people, including those who bought the shares offered to the public, filed the lawsuits in September and October of last year.

FOR $13.9 MILLION PAYMENT

According to the company’s statement via the US regulatory agency last night, the parties have agreed to waive claims in exchange for a payment of $13.9 million to be made by Hepsiburada and TurkCommerce.

Noting that the litigation processes have come to an end with the settlement, the statement said: “The company continues to believe that the allegations are unfounded and the settlement … will allow it to focus on profitability.”

in the statement Also, the agreement It was said that it could take several months to be approved by the court. (Reuters)