(AFRM) News: Why is Affirm Holdings Stock Dropping? Contact Johnson Fistel Regarding Investigation

San Diego, California--(Newsfile Corp. - February 24, 2022) - Shareholder Rights Law Firm Johnson Fistel, LLP is investigating potential claims against Affirm Holdings, Inc. ("Affirm" or the "Company") (NASDAQ: AFRM) and its officers and directors for violations of federal securities laws.

On December 16, 2021, the Consumer Financial Protection Bureau (the "CFPB") announced that it had launched an inquiry into the payment service offered by Affirm known as "buy-now, pay-later" ("BNPL"). The CFPB issued an order to Affirm, along with four other companies offering BNPL, seeking information about Affirm's facilitation of excessive consumer debt, regulatory arbitrage, and data harvesting. The CFPB said it is concerned about "accumulating debt, regulatory arbitrage, and data harvesting" and is seeking data on the risks and benefits of the products. In a statement addressing BNPL services, CFPB Director Rohit Chopra said, "[t]he consumer gets the product immediately but gets the debt immediately too."

Then on February 10, 2022, Affirm stock price began to drop following a "Human Error" in which Affirm's official Twitter account tweeted a portion of the Company's fiscal Q2 results earlier than planned. Shares tanked as much as 33% after the full results were released; the Company posted a wider-than-expected loss per share, and the Q3 revenue outlook missed Wall Street expectations.

If you have information that could assist in this investigation, including past employees and others, or an Affirm shareholder who lost money on your investment and are interested in learning more about how to recover your money and the investigation, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.

To join this action, you can go to: https://www.cognitoforms.com/JohnsonFistel/AffirmHoldingsInc2 or [Click here to join this action]. There is no cost or obligation to you.

About Johnson Fistel, LLP:

Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:

Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com

To join this action, you can go to: https://www.cognitoforms.com/JohnsonFistel/AffirmHoldingsInc2 or [Click here to join this action]. There is no cost or obligation to you.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/114702