INVESTOR ALERT: Kirby McInerney LLP Reminds Investors that Securities Class Action Lawsuits Have Been Filed on Behalf of Investors in Hepsiburada (HEPS), Höegh LNG Partners LP (HMLP), and Owlet, Inc. (OWLT) and Encourages Investors to Contact the Firm
Additional information about each case can be found at the links provided below.
NEW YORK, Dec. 09, 2021 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that securities class action lawsuits have been filed on behalf of investors in securities of D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi a/k/a D-MARKET Electronic Services & Trading d/b/a/ Hepsiburada, Höegh LNG Partners LP, and Owlet, Inc. Investors have until the deadlines below to apply to the Court to be appointed as lead plaintiff in the lawsuits. Additional information about each case can be found at the links provided below.
D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi a/k/a D-MARKET Electronic Services & Trading d/b/a/ Hepsiburada (“Hepsiburada” or the “Company”) (NASDAQ: HEPS)
Class Period: June 27, 2021 to October 21, 2021
Pending Court: U.S. District Court for the Southern District of New York
Lead Plaintiff Deadline: December 20, 2021
The lawsuit 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 Gross Merchandise Value 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.
For additional information on the Hepsiburada lawsuit please visit this website.
Höegh LNG Partners LP (“Höegh” or the “Company”) (NYSE: HMLP)
Class Period: August 22, 2019 to July 27, 2021
Pending Court: U.S. District Court for the District of New Jersey
Lead Plaintiff Deadline: December 27, 2021
The lawsuit alleges throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose: (1) Höegh was facing issues with the PGN FSRU Lampung charter; (2) as a result, the PGN FSRU Lampung charterer would state that it would commence arbitration to declare the charter null and void, and/or to terminate the charter, and/or seek damages; (3) Höegh would need to find alternative refinancing for its PGN FSRU Lampung credit facility; (4) the PGN FSRU Lampung credit facility matured in September 2021, not October 2021 as previously stated; (5) Höegh would be forced to accept less favorable refinancing terms with regards to the PGN FSRU Lampung credit facility; (6) Höegh LNG would not extend the revolving credit line to Höegh past its maturation date; (7) Höegh LNG would reveal that it “will have very limited capacity to extend any additional advances to Höegh beyond what is currently drawn under the facility”; (8) as a result of the foregoing Höegh would essentially end distributions to common units holders; (9) the COVID-19 pandemic was not the sole or root cause of the Höegh’s issues in Indonesia, in 2019, before the pandemic, there were already a very low amount of demand in Indonesia for Höegh’s gas; (10) the auditing, tax, nor maintenance of PGN FSRU Lampung were not the sole or root cause(s) of Höegh’s issues in Indonesia; and (11) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
For additional information on the Höegh lawsuit please visit this website.
Owlet, Inc. (“Owlet” or the “Company”) (NYSE: OWLT)
Class Period: March 31, 2021 to October 4, 2021
Pending Court: U.S. District Court for the Central District of California
Lead Plaintiff Deadline: January 18, 2022
The lawsuit alleges throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Owlet was reasonably likely to be required to obtain marketing authorization for the Smart Sock because the FDA concluded it was a medical device; (2) as a result, Owlet was reasonably likely to cease commercial distribution of the Smart Sock in the U.S. until it obtained the requisite approval; and (3) 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.
For additional information on the Owlet lawsuits please visit this website.
About Kirby McInerney LLP:
Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
(212) 371-6600
[email protected]
www.kmllp.com
