Affirm Holdings, Inc. Class Action Lawsuit - AFRM
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The Affirm class action lawsuit seeks to represent purchasers or acquirers of Affirm Holdings, Inc. (NASDAQ: AFRM) securities between February 12, 2021 and December 15, 2021, inclusive (the “Class Period”). Captioned Kusnier v. Affirm Holdings, Inc., No. 22-cv-07770 (N.D. Cal.), the Affirm class action lawsuit charges Affirm and certain of its top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Affirm class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at firstname.lastname@example.org. Lead plaintiff motions for the Affirm class action lawsuit must be filed with the court no later than February 6, 2023.
CASE ALLEGATIONS: Affirm operates a platform for digital and mobile-first commerce in the United States and Canada. Specifically, Affirm offers a payment service known as “buy-now, pay-later” (“BNPL”), which allows consumers to purchase a product immediately and pay for it at a later time, usually over a series of installments.
The Affirm class action lawsuit alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Affirm’s BNPL service facilitated excessive consumer debt, regulatory arbitrage, and data harvesting; and (ii) this subjected Affirm to a heightened risk of regulatory scrutiny and enforcement action.
On December 16, 2021, the Consumer Financial Protection Bureau announced that it had launched an inquiry into Affirm’s BNPL payment service. On this news, Affirm’s stock price fell by more than 10%, damaging investors.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Affirm securities during the Class Period to seek appointment as lead plaintiff in the Affirm class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Affirm class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Affirm class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Affirm class action lawsuit.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors in 2021 – more than triple the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.