INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Affirm Holdings, Inc. (AFRM) Investors

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Affirm Holdings, Inc. (“Affirm” or the “Company”) (NASDAQ: AFRM) securities on February 10, 2022 after the Company sent a Tweet concerning its Second Quarter 2022 financial results at approximately 1:15 p.m. EST (the “Class Period”). Affirm investors have until April 29, 2022 to file a lead plaintiff motion.

Investors suffering losses on their Affirm investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [e-mail].

On February 10, 2022, Affirm announced in a Tweet details of the Company’s second quarter 2022 financial performance, including that sales rose 77%, suggesting revenue would beat expectations. This caused Affirm’s share price to spike nearly 10% in intra-day trading. Later that day, the Company deleted the Tweet and announced its full 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 $26.89, or 32.2% from an intra-day high of $83.57 per share to close at $58.68 per share on February 10, 2022, thereby injuring investors.

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s Tweet contained only selected metrics from its second quarter 2022 financial results, which caused investors to believe that the Company had performed better than it actually did; (2) 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; and (3) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.

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 [phone], toll-free at [phone], or by email to [e-mail], or visit our website at www.howardsmithlaw.com.

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