Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Jan. 16, 2023 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Affirm Holdings, Inc. (“Affirm” or “the Company”) (NASDAQ: AFRM) investors that a lawsuit filed on behalf of investors that purchased securities between February 12, 2021 through December 15, 2021.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a free case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On December 16, 2021, the Consumer Financial Protection Bureau (“CFPB”) announced that it had launched an inquiry into Affirm’s BNPL payment service, along with four other companies offering BNPL. The CFPB indicated that it was concerned about how BNPL leads to “accumulating debt, regulatory arbitrage, and data harvesting,” and is seeking data on the risks and benefits of the product. In a statement addressing BNPL services, the CFPB Director stated, “[t]the consumer gets the product immediately but gets the debt immediately too.”
On this news, the price of Affirm shares declined by $11.74 per share, or approximately 10.58%, from $110.98 per share to close at $99.24 on December 16, 2021.
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The Portnoy Law Firm represents investors in pursuing claims against causes caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar