Bronstein, Gewirtz & Grossman, LLC Notifies Affirm Holdings, Inc. (AFRM) Investors of Class Action and Encourages Investors to Contact the Firm

Business Wire 11-Mar-2022 11:00 AM

Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Affirm Holdings, Inc. ("Affirm" or "the Company") (NYSE:AFRM) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Affirm securities February 11, 2021, and February 10, 2022, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/afrm.

This class action seeks to recover damages against Defendants for alleged violations of the Securities Exchange Act of 1934 (the "Exchange Act").

The Complaint alleges that Affirm's Tweet was materially false and misleading because it contained only selected metrics from the Company's second quarter 2022 financial results, which caused investors to believe that the Company had performed better than it actually did. The complaint continues to allege that the Tweet omitted material details, including that Affirm's quarterly loss was $0.57 per share, which was necessary in order to make the statement made not misleading.

On February 10, 2022, during market hours, Affirm's stock price spiked after a later-deleted tweet from the Company's official Twitter account posted some second quarter metrics. Then, still during market hours on the same day, Affirm tweeted a second tweet, attaching its quarterly results which included a third quarter revenue forecast that missed some analyst estimates and included a widened net loss. On this news, Affirm's stock price fell $12.13 per share, or 20.67%, to close at $46.55 per share on February 11, 2022.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/afrm or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Affirm you have until April 29, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

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