A lawsuit was filed on behalf of investors in Affirm Holdings, Inc. (NASDAQ: AFRM) shares over alleged securities laws violations.
San Diego, CA — (SBWIRE) — 03/15/2022 — An investor, who purchased NASDAQ: AFRM shares on February 10, 2022 after the Company sent a Tweet concerning its Second Quarter 2022 financial results at approximately 1:15 PM Eastern Standard Time, filed a lawsuit against Affirm Holdings, Inc. over alleged Securities Laws violations.
Investors who purchased a significant amount of shares of Affirm Holdings, Inc. (NASDAQ: AFRM) n February 10, 2022 after the Company sent a Tweet concerning its Second Quarter 2022 financial results at approximately 1:15 PM Eastern Standard Time have certain options and for certain investors are short and strict deadlines running. Deadline: April 29, 2022. NASDAQ: AFRM investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
On December 16, 2021, the Consumer Financial Protection Bureau issued an order to Affirm Holdings, Inc., along with four other companies offering “buy now, pay later” credit, seeking information about the companies’ facilitation of excessive consumer debt, regulatory arbitrage and data harvesting. Affirm represents itself as a “next generation platform for digital and mobile-first commerce.”
Then on February 10, 2022, during market hours, Affirm Holdings, Inc. stock spiked as high as 12% after a since deleted tweet from the company’s official Twitter account posted some Q2 metrics. Affirm Holdings, Inc. announced Q2 2021 financial results later that afternoon and the stock price dropped more than 20%.
Shares of Affirm Holdings, Inc. (NASDAQ: AFRM) declined from $83.57 per share on February 10, 2022, to as low as $42.13 per share during February 15, 2022.
The plaintiff alleges on behalf of purchasers of Affirm Holdings, Inc. (NASDAQ: AFRM) common shares on February 10, 2022 after the Company sent a Tweet concerning its Second Quarter 2022 financial results at approximately 1:15 PM Eastern Standard Time, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that the tweet was materially misleading, in that it omitted to disclose the full details of the Company’s second quarter financial results, that the Company deleted the tweet and released its full second quarter financial results ahead of schedule, and that the full financial results were lackluster – with the Company posting a loss of $0.57 per share, compared with analyst expectations of $0.37 per share.
Those who purchased shares of Affirm Holdings, Inc. (NASDAQ: AFRM) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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