Affirm Wins Dismissal of Investor Suit Over Interest Rate Hikes

A federal judge dismissed a lawsuit accusing financial technology company Affirm Holdings Inc. of misleading investors about the impact of rising interest rates.

Shareholders who claim Affirm downplayed the business risks with a series of false and misleading statements didn’t adequately allege the company meant to deceive them, Judge Araceli Martínez-Olguín in the US District Court for the Northern District of California said.

“Whether taken individually or holistically, Kusnier’s allegations do not give rise to a cogent inference of scienter that is at least as compelling as any opposing inference,” Martínez-Olguín said in a Monday order, referring to lead ...