Philadelphia, Pa.–(Newsfile Corp. – March 10, 2022) – Shepherd Montagueis investigating allegations of securities fraud on behalf of investors who purchased the securities of Affirm Holdings, Inc. (“Affirm” or the “Company”) (NASDAQ: AFRM) between From February 10, 2022 to February 10, 2022 (the “Class Period”).
If you purchased Affirm securities during the Class Period, wish to discuss the Berger Montague investigation, or have any questions regarding your rights or interests, please contact attorneys Andrew Abramowitz at [email protected] or (215) 875- 3015, or Michael Dell’Angelo at [email protected] or (215) 875-3080 or visit: https://investigations.bergermontague.com/affirm-holdings/.
Whistleblowers: Anyone with nonpublic information about Affirm is encouraged to confidentially participate in Berger Montague’s investigation or take advantage of the SEC’s whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
The trial: Affirm, headquartered in San Francisco, is a buy-it-now, pay-later company that provides installment loans to creditors.
According to a recently filed lawsuit, at approximately 1:15 p.m. EST on February 10, 2022, Affirm posted a Tweet disclosing, prior to the company’s earnings release, certain measures of its second quarter 2022 financial results. The Tweet described a very successful quarter, which included a 77% revenue increase. This sent Affirm’s stock price up nearly 10% in intraday trading.
Shortly thereafter, on the same day, Affirm deleted the Tweet and released its full second quarter 2022 financial results ahead of schedule. The full financial results were much less impressive than investors believed from the Tweet, and Affirm’s stock price fell $24.89 per share – or 32% – from a high. intraday of $83.57 per share, to close at $58.68 per share in February. ten.
Shepherd Montaguewith offices in Philadelphia, Minneapolis, Washington, D.C. and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for more than five decades and acts as lead counsel before the courts. across the United States.
Andrew Abramowitz, Senior Counsel
Michael Dell’Angelo, executive shareholder
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/116189