NEW YORK, March 21, 2022 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Affirm Holdings, Inc. (“Affirm” or the “Company”) (NASDAQ: AFRM). A complaint has been filed on behalf of investors who purchased or otherwise acquired Affirm securities on February 10, 2022 after the Company sent a Tweet concerning its Second Quarter 2022 financial results at approximately 1:15pm EST (the “Class Period”).
According to the complaint, at approximately 1:15 p.m. on February 10, 2022, Affirm issued a Tweet from its official account in which it disclosed certain metrics from its second quarter 2022 financial results. The Tweet, which was published prior to Affirm's planned release of its financial results, portrayed a highly successful quarter, which included an increase in revenue of 77%. Following the Tweet, Affirm's share price spiked nearly 10% in intra-day trading. Affirm then deleted the Tweet on February 10, 2022, and released its full second quarter 2022 financial results ahead of schedule. According to the complaint, the full financial results were far less impressive than investors were led to believe from the Tweet. For example, Affirm posted a quarterly loss of $0.57 per share – far worse than analyst expectations of $0.37 per share.
Following the news of the deleted-Tweet and subsequent release of the full earnings, Affirm's share price fell $24.89 per share, or approximately 30%, from an intra-day high of $83.57 per share on February 10, 2022, to close at $58.68 per share on February 10, 2022.
If you are a member of the proposed Class, you may move the court no later than April 29, 2022 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
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Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(212) 687-1980
E-mail: dhall@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
