Flywire Corporation (NASDAQ: FLYW): Flywire Corporation (“Flywire” or the “Company”) and certain of the Company’s senior executives have been sued for violations of the federal securities laws. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Flywire securities. The case is pending in the U.S. District Court for the Eastern District of New York and is captioned Hickman v. Flywire Corp., et al., No. 1:25-cv-04110.
If you incurred losses on your investments in Flywire, you are encouraged to submit your information.
Why Was Flywire Sued for Securities Fraud?
Flywire operates as a payments-enablement, and software company. Its largest client vertical is education, the volumes and revenue from which rely on international enrollments and student school preferences. In and around late 2023 and early 2024, the Canadian and Australian governments began to tighten student visa and permitting rules.
Despite these headwinds, the complaint alleges that Flywire consistently touted the sustainability of its revenue growth and financial condition, while downplaying the negative impacts of permit- and visa-related headwinds on the Company’s business.
In truth, it is alleged that Flywire overstated the strength and sustainability of its revenue growth while understating the negative impacts that the permit- and visa-related restrictions had and were likely to have on Flywire’s business.
The Stock Declines as the Truth Is Revealed
On February 25, 2025, Flywire announced disappointing fourth quarter and full year 2024 financial results. When discussing the results, Flywire announced that its business in the education sector had significantly deteriorated due to worsening permit- and visa-related headwinds, including “double digit declines in student visa issuance in our big four geographic markets,” with “continued visa policy restrictions” anticipated in 2025. Significantly, Flywire disclosed that it “expect[s] revenue in both [Canadian and Australian] markets to be down over 30%” year-over-year because of “recent policy changes” and “new visa rules [that] are starting to affect demand.” On this news, the price of Flywire stock declined roughly 37%, from $17.64 per share on February 25, 2025, to $11.05 per share on February 26, 2025.
What Are My Rights?
If you purchased or otherwise acquired Flywire securities, you may ask the Court no later than September 23, 2025, which is the first business day after 60 days from the date of the publication of notice of pendency of the action, to appoint you as Lead Plaintiff through counsel of your choice. To be a member of the Class, you need not take any action at this time. The ability to share in any potential future recovery is not dependent on serving as Lead Plaintiff.
Contact Us
If you incurred losses on your investments in Flywire, you are encouraged to submit your information using the form on this page to speak with an attorney about your rights.
You can also contact:
Ross Shikowitz
ross@bfalaw.com
212.789.3619
All representation is on a contingency fee basis. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Why Bleichmar Fonti & Auld LLP?
BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
Attorney advertising. Past results do not guarantee future outcomes.
