Hepsiburada settles lawsuits filed against it for $13.9 million

Hepsiburada has agreed for $13.9 million to drop lawsuits filed against it in the US Following Hepsiburada’s initial public offering on the Nasdaq Stock Exchange in July of last year, lawsuits were filed against company executives, the main partner that sold the shares, TurkCommerce BV, and the institutions that brokered the IPO. The individuals, including those who purchased the shares in the IPO, filed the lawsuits in September and October of last year. According to a statement made by the company through the US regulator on Monday, the parties have agreed to drop the claims in exchange for a payment of $13.9 million by Hepsiburada and TurkCommerce. The statement said that the agreement could take several months to be approved by the court.