BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Affirm Holdings, Inc. (“Affirm” or the “Company”) (NASDAQ: AFRM) investors concerning the Company’s possible violations of federal securities laws.
On December 16, 2021, the Consumer Financial Protection Bureau issued an order to Affirm, 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.
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.
Then, on, February 10, 2022, Affirm announced in a since-deleted tweet details of the Company’s financial performance, including that its sales rose 77%, suggesting revenue would beat expectations. Later that day, the Company announced its second quarter 2022 financial results, including a net loss of $159.7 million that missed analyst estimates of $100.3 million.
On this news, Affirm’s stock price fell $16.00, or 21%, to close at $58.68 per share on February 10, 2022, thereby injuring investors further.
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 howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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