Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Affirm Holdings, Inc. (AFRM)

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

Law Offices of Howard G. Smith reminds investors of the upcoming February 6, 2023 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Affirm Holdings, Inc. (“Affirm” or the “Company”) (NASDAQ: AFRM) securities between February 12, 2021 and December 15, 2021, inclusive (the “Class Period”).

Investors suffering losses on their Affirm investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

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.

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 if you meet certain legal requirements. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

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