HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Affirm Holdings (AFRM) Investors with Significant Losses to Contact Firm's Attorneys, Securities Fraud Class Action Filed

ACCESSWIRE 11-Mar-2022 11:55 AM

SAN FRANCISCO, CA / ACCESSWIRE / March 11, 2022 / Hagens Berman urges Affirm Holdings, Inc. (NASDAQ:AFRM) investors who suffered significant losses on Feb. 10, 2022 to submit your losses now. A securities fraud class action has been filed and certain investors may have valuable claims.

Class Period: Feb. 10, 2022 - Feb. 10, 2022

Lead Plaintiff Deadline: Apr. 29, 2022

Visit: www.hbsslaw.com/investor-fraud/AFRM

Contact An Attorney Now: AFRM@hbsslaw.com

844-916-0895

Affirm Holdings, Inc. (AFRM) Securities Fraud Class Action:

The lawsuit focuses on Affirm's use of social media in connection with its release of partial quarterly financial results.

According to the complaint, Affirm planned to announce its financial results for the second quarter of its fiscal 2022 after the markets closed on Feb. 10, 2022.

But, on Feb. 10, 2022, at approximately 1:15 pm (before the market closed), Affirm's official Twitter account issued a Tweet containing some of the company's Q2 2022 financial results, stating: "Another great quarter on the books [] as we accelerated our growth. Leveraging our superior technology & putting people first = increasing total # of transactions by 218%, active consumers by 150%, GMV by 115%, & revenue by 77%! Tune in today at 2pm PT…" In response, the price of Affirm shares rose about 10% during intraday trading.

The complaint alleges Affirm's Tweet materially misled investors because it failed to disclose the full details of Affirm's Q2 2022 financial results,

After Affirm's Tweet and before the market closed on Feb. 10, 2022, the company deleted its Tweet and released its full Q2 2022 financial results, which were far less impressive than investors were led to believe and included a quarterly loss of $0.57/share - far worse than the $0.37/share loss analysts expected.

On this news, the price of Affirm's shares plummeted lower.

"We're focused on investors' losses and proving Affirm intentionally released partial data for its Q2 to soften the blow when its full Q2 results became known," said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Affirm and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Affirm should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email AFRM@hbsslaw.com.

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About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

Contact:
Reed Kathrein, 844-916-0895

SOURCE: Hagens Berman