Core Viewpoint - A lawsuit has been filed against Flywire Corporation and its senior executives for potential violations of federal securities laws, with claims related to the company's misrepresentation of its revenue growth and the impact of visa-related restrictions on its business [1][2][4]. Group 1: Lawsuit Details - Investors have until September 23, 2025, to request to lead the case, which is pending in the U.S. District Court for the Eastern District of New York [2]. - The lawsuit asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Flywire securities [2]. Group 2: Company Background - Flywire operates as a payments-enablement and software company, primarily serving the education sector, which relies heavily on international enrollments and student preferences [3]. - The company has faced challenges due to tightening student visa and permitting rules implemented by the Canadian and Australian governments in late 2023 and early 2024 [3]. Group 3: Financial Misrepresentation - Despite facing headwinds, Flywire allegedly overstated the strength and sustainability of its revenue growth while downplaying the negative impacts of permit- and visa-related restrictions [4]. - On February 25, 2025, Flywire disclosed significant deterioration in its education sector business, citing "double digit declines in student visa issuance" and anticipated continued restrictions in 2025 [5]. Group 4: Stock Performance - Following the announcement of the negative impacts on its business, Flywire's stock price fell approximately 37%, from $17.64 per share on February 25, 2025, to $11.05 per share on February 26, 2025 [5].

Core Viewpoint - A class action lawsuit has been filed against Flywire Corporation and certain officers for alleged violations of federal securities laws during the Class Period from February 28, 2024, to February 25, 2025, seeking damages for misleading statements regarding the company's revenue growth and business operations [1][8]. Company Overview - Flywire operates as a payments-enablement and software company, facilitating payments across various industries, with a significant focus on the education sector [4]. - The company's financial performance is particularly reliant on international enrollments and student preferences, especially in the Americas and Asia-Pacific regions [5]. Market Challenges - The Canadian government imposed intake caps on international student permit applications starting January 2024, leading to a decrease in international students and negatively impacting Flywire's payment flows [6]. - Australia has also tightened international student visa rules, further adversely affecting Flywire's business [6]. Misleading Statements - Throughout the Class Period, Flywire's executives allegedly overstated the sustainability of revenue growth and downplayed the negative impacts of permit and visa-related restrictions on the business [7][8]. - In November 2024, executives claimed Flywire would maintain strong revenue growth, projecting FX neutral RLAS growth in the low 20% range for FY 2025, despite emerging challenges [7]. Financial Performance - On February 25, 2025, Flywire reported a Q4 2024 loss per share of $0.12 and revenue of $117.6 million, both missing consensus estimates [9]. - The company announced a projected RLAS growth of only 10-14% for 2025, significantly lower than previous expectations [10]. Analyst Reactions - Following the disappointing Q4 results and revised forecasts, multiple analysts downgraded their recommendations and cut price targets for Flywire's stock [12]. - The stock price fell by $6.59, or 37.36%, closing at $11.05 per share on February 26, 2025, reflecting market reaction to the negative disclosures [13].