Bronstein, Gewirtz & Grossman, LLC Notifies Shareholders of Affirm Holdings, Inc. (AFRM) Investigation

NEW YORK--(BUSINESS WIRE)--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Affirm Holdings, Inc. ("Affirm " or "the Company") (NYSE: AFRM). Investors who purchased Affirm securities are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/afrm.

The investigation concerns whether Affirm and certain of its officers and/or directors have violated federal securities laws.

On December 16, 2021, the Consumer Financial Protection Bureau (the “CFPB”) announced its investigation into Affirm and its payment service, “buy-now, pay-later” (“BNPL”). The CFPB issued an order seeking information about Affirm’s facilitation of excessive consumer debt, regulatory arbitrage and data harvesting. The CFPB said it is concerned about “accumulating debt, regulatory arbitrage, and data harvesting.” Following this news, Affirm stock price dropped $11.74 per share, or roughly 10.6%, to close at $99.24 on December 16, 2021. Then, 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.

If you are aware of any facts relating to this investigation or purchased Affirm shares, you can assist this investigation by visiting the firm’s site: www.bgandg.com/afrm. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.

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.