To collect money from the Affirm securities settlement, you file a proof of claim form with the court-appointed settlement administrator: confirm you bought or acquired AFRM securities between February 12, 2021 and February 10, 2022, gather your brokerage records for that window, complete the Affirm class action claim form on the administrator’s website, sign the penalty-of-perjury declaration, and submit it online or by postmarked mail before the court’s filing deadline. The case is In re Affirm Holdings Securities Litigation, Case No. 22-cv-01243, in the U.S. District Court for the Northern District of California.
Confirm You Belong in the Class
You are a class member if you purchased or otherwise acquired Affirm securities between February 12, 2021 and February 10, 2022 (the “class period”) and suffered a financial loss. The class covers common stock traded on NASDAQ under the ticker AFRM and may extend to options, depending on the court-approved class definition. Pull up your brokerage history and confirm at least one purchase falls inside those dates.
Some people cannot file. Officers and directors of Affirm during the class period, their immediate family members, and any entity a defendant controls are excluded. If you sold every share before any corrective disclosure and took no loss, you have no recognized claim to submit.
Gather Your Documents First
Open the form only after your paperwork is in front of you. Missing or inconsistent documentation is the most common reason claims get rejected.
- Brokerage trade confirmations for each buy and sell during the class period, showing exact date, share count, and price. These are the strongest proof.
- Monthly or quarterly account statements that show your Affirm holdings and transactions, if confirmation slips are no longer available.
- A broker letter listing the same transaction details, if neither confirmations nor statements are on hand. Request it in writing from your brokerage.
- Your full legal name, current address, phone, email, and Social Security number or taxpayer identification number. The TIN is required for IRS reporting on any payout.
Send copies only. Keep originals in your own files, and don’t highlight or annotate the pages you submit, since markings can obscure the transaction data the administrator needs to read.
Fill Out the Claim Form Section by Section
The official proof of claim form lives on the settlement administrator’s website, which is identified in the court-approved class notice. If no notice reached you, check the docket for Case No. 22-cv-01243 in the Northern District of California, or contact the administrator directly using the contact information in any published notice.
The form has several parts:
- Claimant identification. Enter your name, address, and taxpayer ID exactly as they appear on your brokerage accounts. A name mismatch between the form and the brokerage records will delay processing.
- Transaction schedule. List every purchase, acquisition, and sale of Affirm securities during the class period, with date, share or contract count, and price per share. Include sales after the class period ended, because they factor into your recognized loss.
- Holdings. Report how many Affirm shares you held on February 12, 2021 and how many you still held on February 10, 2022. Enter zero if you held none at either point.
- Supporting documents. Attach the confirmations, statements, or broker letter you collected. Online submissions accept PDFs or images; paper submissions need physical copies clipped or stapled to the form.
- Declaration under penalty of perjury. Sign the final statement confirming your entries are true. Federal law gives this unsworn declaration the same weight as a sworn affidavit.1Office of the Law Revision Counsel. 28 USC 1746 – Unsworn Declarations Under Penalty of Perjury
Check every date and dollar figure against your brokerage records before signing. The administrator cross-references your entries against Affirm’s transfer agent data, and errors can reduce your payout or trigger a rejection.
Submit Online or by Mail
You have two ways to file. Online submission through the administrator’s portal is faster and gives you a confirmation number on the screen the moment you submit. Save or screenshot that number. Some administrators do not send a follow-up email, so the on-screen confirmation may be the only receipt you get.
Mail submission works too. Print the form, complete it by hand or typewriter, attach your supporting copies, and send it to the address on the form using certified mail with return receipt requested. The postmark date controls, not the arrival date, and certified mail proves that postmark if a dispute ever arises.
Expect an acknowledgment within a few weeks. If something is missing or inconsistent, the administrator sends a deficiency notice, usually with about 30 days to cure the problem. Respond right away. Ignored deficiency notices become denials.
Watch Three Deadlines
Class action settlements run on court-ordered dates. Missing any of them typically forfeits your rights. The class notice publishes three:
- Claim filing deadline. The last day to file the proof of claim form, either online or postmarked by mail. Set by the court and not negotiable.
- Opt-out deadline. If you want to sue Affirm on your own instead of joining the settlement, you must request exclusion in writing before this date. Opting out gives up your share of the fund but preserves your right to file separately.
- Objection deadline. If you disagree with the settlement amount, the allocation formula, or the attorney fees, you can file a written objection with the court before this date. The judge weighs objections at the final approval hearing.
Court schedules shift, so pull the current dates from the settlement website or the PACER docket for Case No. 22-cv-01243 rather than relying on secondhand summaries.
How Your Payout Is Calculated
Your individual check depends on a court-approved plan of allocation, the formula the administrator uses to split the net settlement fund (the total fund minus attorney fees, administrative costs, and court-awarded expenses) among valid claimants.
The formula turns on your “recognized loss,” a per-share figure driven by when you bought, when you sold or whether you still held at the end of the class period, and how the stock price moved after the alleged corrective disclosures. Shares bought early at higher prices and sold after a drop generally produce a larger recognized loss than shares bought near the end of the class period.
Once all valid claims are tallied, the administrator divides the fund pro rata: your payout equals your recognized loss divided by the total recognized losses across all claimants, multiplied by the available fund. Some settlements set a minimum payment (for example, $5 or $10); claims that calculate below that floor pay nothing. The number of people who file directly affects each check, and distribution doesn’t start until after the final fairness hearing and any appeals are resolved, which can add months or longer beyond the filing deadline.
Mistakes That Get Claims Rejected
Most denied claims fail for preventable reasons. The ones administrators flag most often:
- Filing the form without attaching brokerage records. The form alone is not proof.
- Entering approximate dates or rounded prices instead of the exact figures from your confirmations. Even small mismatches trigger deficiency review.
- Submitting duplicate claims. If you held Affirm across multiple brokerage accounts, file one claim listing all accounts unless the form instructions say otherwise.
- Leaving the penalty-of-perjury declaration unsigned. An unsigned form is treated as incomplete.
- Filing after the deadline. Late claims are almost never accepted, whatever the reason.
If you catch an error after submitting, contact the administrator immediately. Amendments are usually allowed before the filing deadline and during any deficiency cure window, but not after the claim moves into final review.