LOS ANGELES, April 01, 2022 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming April 29, 2022 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Affirm Holdings, Inc. (“Affirm” or the “Company”) (NASDAQ: AFRM) securities 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”).
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/. 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 February 10, 2022, Affirm announced in a Tweet details of the Company’s second quarter 2022 financial performance, including that sales rose 77%, suggesting revenue would beat expectations. This caused Affirm’s share price to spike nearly 10% in intra-day trading. Later that day, the Company deleted the Tweet and announced its full results, including a net loss of $159.7 million that missed analyst estimates of $100.3 million.
On this news, Affirm’s stock price fell $26.89, or 32.2% from an intra-day high of $83.57 per share $16.00, to close at $58.68 per share on February 10, 2022, thereby injuring investors.
The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s Tweet contained only selected metrics from its second quarter 2022 financial results, which caused investors to believe that the Company had performed better than it actually did; (2) the Tweet omitted material details, including that Affirm’s quarterly loss was $0.57 per share, which was necessary in order to make the statement made not misleading; and (3) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.
Follow us for updates on LinkedIn, Twitter, or Facebook.
If you purchased or otherwise acquired Affirm securities during the Class Period, you may move the Court no later than April 29, 2022 to request appointment as lead plaintiff in this putative class action lawsuit. 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 the pending class action lawsuit, 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.
Contacts
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com
