Levi & Korsinsky, LLP announces that an AFRM class action lawsuit has been filed on behalf of investors who purchased Affirm Holdings, Inc.(AFRM) This lawsuit is on behalf of all investors who purchased or otherwise acquired Affirm Holdings, Inc. 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. For more on the AFRM Lawsuit please contact us today.
According to the Affirm Holdings lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: According to the filed complaint, on February 10, 2022, at approximately 1:15 p.m., Affirm issued a Tweet from its official account in which the Company disclosed certain metrics from its second-quarter 2022 financial results. The Tweet, which was published prior to the Company’s planned release of its financial results, portrayed a highly successful quarter, which included an increase in revenue of 77%. This caused Affirm’s share price to spike nearly 10% in intra-day trading. The Tweet was materially misleading, in that it omitted to disclose the full details of Affirm’s second-quarter financial results. Affirm deleted the Tweet and released its full second-quarter financial results ahead of schedule. The full financial results were lacklustre – with the Company posting a loss of $0.57 per share, compared with analyst expectations of $0.37 per share.
If you suffered a loss in Affirm Holdings you have until April 29, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171