The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Affirm Holdings, Inc. (NASDAQ: AFRM) who purchased shares between February 12, 2021 and February 10, 2022. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Affirm Holdings, Inc. lawsuit alleges that (i) Affirm’s “buy now, pay-later” service facilitated excessive consumer debt, regulatory arbitrage, and data harvesting; (ii) the foregoing subjected Affirm to a heightened risk of regulatory scrutiny and enforcement action; (iii) Affirm maintained inadequate disclosure controls and procedures and internal control over financial reporting; (iv) accordingly, Affirm’s tweet for its second quarter 2022 financial results contained selected metrics that made it appear that the Company had performed better than it actually did; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until April 29, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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