Flywire(US:FLYW) GlobeNewswire News Roomยท2025-09-05 22:58Core Viewpoint - Flywire Corporation is facing a class action lawsuit due to allegations of misleading statements regarding its revenue growth and the impact of visa-related restrictions on its business [3][4]. Group 1: Class Action Details - The class action represents investors who purchased Flywire securities between February 28, 2024, and February 25, 2025, with a deadline of September 23, 2025, to file a lead plaintiff motion [1]. - The Portnoy Law Firm is offering complimentary case evaluations to investors seeking to recover losses [2]. Group 2: Allegations Against Flywire - The lawsuit claims that Flywire overstated the strength and sustainability of its revenue growth [3]. - It is alleged that the negative effects of permit and visa-related restrictions on Flywire's business were understated [3]. Group 3: Financial Performance - On February 25, 2025, Flywire reported a loss per share of $0.12, missing consensus estimates by $0.12, and revenue of $117.6 million, which was $1.25 million below expectations [4]. - The CFO disclosed that revenue in Canada and Australia was expected to decline over 30% year-over-year due to policy changes and new visa rules, with similar challenges anticipated in the U.S. market [4]. - Following the announcement, Flywire's stock price fell by more than 37% [4].