NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Affirm Holdings, Inc. (NASDAQ: AFRM) 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”), of the important April 29, 2022 lead plaintiff deadline.
SO WHAT: If you purchased Affirm securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Affirm class action, go to https://rosenlegal.com/submit-form/?case_id=3161 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 29, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, on February 10, 2022 at approximately 1:15 P.M. EST, Affirm tweeted from its official Twitter account disclosing 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 lackluster – with the Company posting a loss of $0.57 per share, compared with analyst expectations of $0.37 per share.
On this news, Affirm’s share price plummeted from an intra-day high of $83.57 per share to close at $58.68 per share, or approximately 32%.
To join the Affirm class action, go to https://rosenlegal.com/submit-form/?case_id=3161 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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