FLYW NEWS: Did Flywire Corporation Mislead Investors? Contact BFA Law by September 23 Class Action Deadline (NASDAQ:FLYW)
If you invested in Flywire, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/flywire-corporation-class-action-lawsuit.
Investors have until September 23, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased 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.
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, 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 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. 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.
Click here for more information: https://www.bfalaw.com/cases/flywire-corporation-class-action-lawsuit.
What Can You Do?
If you invested in Flywire you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting:
https://www.bfalaw.com/cases/flywire-corporation-class-action-lawsuit
Or contact:Ross Shikowitz
[email protected]
212.789.3619
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