Shareholders with $250,000 losses or more are encouraged to contact the firm.

Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Affirm Holdings, Inc. (“Affirm” or the “Company”) (NASDAQ: AFRM) securities between February 12, 2021 and December 15, 2021, inclusive (the “Class Period”). Affirm investors have until February 6, 2023 to file a lead plaintiff motion.

If you suffered a loss on your Affirm investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/affirm-holdings-inc-1/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

On December 16, 2021, the Consumer Financial Protection Bureau announced that it had launched an inquiry into Affirm, along with four other companies offering “buy-now, pay-later” (“BNPL”) services, indicating that it was concerned about how BNPL leads to “accumulating debt, regulatory arbitrage, and data harvesting.”

On this news, Affirm’s stock fell $11.74, or 10.6%, to close at $99.24 per share on December 16, 2021, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Affirm’s BNPL service facilitated excessive consumer debt, regulatory arbitrage, and data harvesting; (2) the foregoing subjected Affirm to a heightened risk of regulatory scrutiny and enforcement action; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Affirm securities during the Class Period, you may move the Court no later than February 6, 2023 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221212005114/en/