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Shareholders with $250,000 losses or more are encouraged to contact the firm
BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Affirm Holdings, Inc. (“Affirm” or the “Company”) (NASDAQ: AFRM) securities between February 12, 2021 and December 15, 2021, inclusive (the “Class Period”). Affirm investors have until February 6, 2023 to file a lead plaintiff motion.
Investors suffering losses on their Affirm investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On December 16, 2021, the Consumer Financial Protection Bureau announced that it had launched an inquiry into Affirm, along with four other companies offering “buy-now, pay-later” (“BNPL”) services, indicating that it was concerned about how BNPL leads to “accumulating debt, regulatory arbitrage, and data harvesting.”
On this news, Affirm’s stock fell $11.74, or 10.6%, to close at $99.24 per share on December 16, 2021, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Affirm’s BNPL service facilitated excessive consumer debt, regulatory arbitrage, and data harvesting; (2) the foregoing subjected Affirm to a heightened risk of regulatory scrutiny and enforcement action; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased Affirm securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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