Invested in
Affirm Holdings?
Contact investor lawyers for a free evaluation of your potential claims for compensation today.
- Did you invest in Affirm Holdings, Inc. (NASDAQ: AFRM) in or before February 2021 and still hold your shares?
- Are you concerned about the AFRM stock price decline following an investigation by the Consumer Financial Protection Bureau into Affirm’s BNPL service?
- Would you like your potential options for compensation and/or redress to be reviewed by an experienced team of investor lawyers?
Request a free case evaluation of your potential claims for compensation today, via email at arosca@rscounsel.law, through the contact form on this page, or by calling 888-998-0530.
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Free Case Evaluation
The Affirm Holdings Class Action Investigation page is the resource for investors who bought Affirm Holdings shares in or before February 2021 and would like to evaluate compensation claims.
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We can also do a Zoom call to discuss your matter.
Posted February 6, 2023
Affirm Holdings Investigation
Securities attorneys Alan Rosca, Paul Scarlato, and Kathryn Weidner have been investigating alleged securities violations, corporate misconduct, and misrepresentations, as well as questionable business practices involving Affirm Holdings, Inc., and have identified potential areas of concern for Affirm Holdings investors.
What Affirm Investors May Do
AFRM investors interested to evaluate potential options to seek compensation and/or pursue claims related to their Affirm Holdings investment may contact investor rights attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner. Claims that are not timely pursued may expire or otherwise be lost, generally speaking.
Get in Touch with an Experienced Team of Investor Attorneys
Attorneys Rosca, Scarlato, and Weidner have extensive experience in seeking compensation related to investor harm and pursuing claims arising out of alleged violations of securities law and/or corporate misconduct, and are currently evaluating potential claims on behalf of investors in Affirm Holdings, Inc.
They typically work on a contingent fee basis, do not require any money down from their clients, advance case expenses, and only get paid for their fees and expenses if and when successful, following review and approval by the Court of any fee application.
Concerned AFRM stock investors may contact attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner to discuss their potential options toll free at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
Potential Compensation Claims
Has Affirm Holdings Been Accused of Misconduct?
Affirm Holdings, Affirm’s Chairman of the Board of Directors and CEO, Max Levchin, and Michael Linford, Affirm’s CFO, have been the subject of a recent class action lawsuit alleging misconduct against them. The lawsuit is currently pending.
Affirm Holdings and its control persons are accused, among others, of allegedly making materially false and/or misleading statements, and/or failing to disclose that the company’s “buy-now, pay-later” (BNPL) service facilitated “excessive consumer debt, regulatory arbitrage, and data harvesting.”
The complaint further alleged that contrary to representations made to investors, Affirm’s offering of BNPL service exposed the company to a heightened risk of regulatory scrutiny and enforcement action.
Was Affirm Subject to an Inquiry by the Consumer Financial Protection Bureau?
Barely a month after Affirm announced it will serve “as Amazon’s only third party, non credit card, buy now, pay later (“BNPL”) option in the U.S.,” on December 16, 2021, the Consumer Financial Protection Bureau (“CFPB”) issued a press release informing that Affirm is one of the companies subject to a request for information concerning the risks and benefits of BNPL credit.
The regulator further clarified that it is concerned about debt accumulation potentially caused by BNPL credits, lack of adequate disclosures and dispute resolution protections, and practices surrounding data harvesting, to include data collection, behavioral targeting, and data monetization.
According to the 10-K report filed by Affirm in August 2022, Affirm has complied with CFPB’s request for information. The company further disclosed that “the CFPB or state attorneys general may issue a civil investigative demand requiring a target company to prepare and submit, among other items, documents, written reports, answers to interrogatories, and deposition testimony. If we become subject to such investigation, the required response could result in substantial costs and a diversion of the attention and resources of our management.”
Do Affirm Holdings Shareholders Have Claims for Compensation?
Investor rights attorneys Alan Rosca, Paul Scarlato, and Kathryn Weidner at Rosca Scarlato are investigating potential options and are evaluating potential claims for compensation and/or other redress on behalf of AFRM shareholders. They have decades of combined experience representing victims of corporate or financial misconduct.
If you are a Affirm Holdings investor concerned about your investment and/or its value, you may contact attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner to learn more about your rights and for an evaluation of your potential claims, or to provide useful information.
All consultations are free. The Rosca Scarlato attorneys typically take cases like this on a contingency fee basis, advance all case costs, and only get paid for their fees and expenses if and when they are successful, following review and approval by the Court of any fee application.
To reach attorney Alan Rosca or his colleagues, Affirm Holdings investors may call 888-998-0530, email arosca@rscounsel.law, or leave a message through the contact form on this webpage.
The general considerations on this page are for informational purposes only and do not constitute legal advice. Such legal advice can only be offered once the attorneys discuss each investor’s situation, learn of the relevant facts and can tailor any advice to that investor’s facts. The Affirm Holdings Class Action Investigation page is not affiliated with Affirm Holdings, Inc. There has not been an adjudication on the merits of the cases referenced in this blog post, as of the date of the posting.
Contact info:
Rosca Scarlato LLC – 216-946-7070 / 888-998-0530.
Alan Rosca – arosca@rscounsel.law
Paul Scarlato – pscarlato@rscounsel.law
Kathryn Weidner – kweidner@rscounsel.law
Recent Investigations
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DISCLAIMER
In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.