Flywire Corporation (FLYW) Securities Class Action Lawsuit Update [September 15, 2025]

Introduction to Flywire Corporation (FLYW) Securities Class Action Lawsuit

Angry shareholders are suing Flywire Corporation.  The case is about alleged misstatements the company and its top brass made between February 28, 2024 and February 25, 2025 (“the class period”). Aggrieved shareholders are saying Flywire led them astray about the strength and sustainability of its revenue growth, overstating the company’s growth potential. That’s while the company alleged downplayed how the new clamp down on international student permits and visas would affect the business. 

On February 25, 2025, Flywire shocked investors when it announced dismal Q4 and FY 2024 results. The company also slashed its financial guidance and announced a workforce restructuring. Investors reacted negatively to that news and Flywire’s stock plunged by 37.36%.

Case Details

• Case Name: Hickman v. Flywire Corporation, et al.

• Docket Number: 1:25-cv-04110

• Court: U.S. District Court, Eastern District of New York

• Filing Date: July 25, 2025

Flywire Corporation (FLYW) Company Profile

Flywire Corporation is a payments-enablement and software platform. Education is its largest sector, but it serves other industries, too. During the Class Period, Flywire’s Americas and APAC markets accounted for a significant portion of its revenue. Education volume’s linked pretty closely to international student enrollment.

Flywire Corporation (FLYW) Securities Lawsuit Class Period 

February 28, 2024 to February 25, 2025, inclusive. 

Investors who acquired Flywire securities during this time might be eligible to join the Flywire, Inc. class action securities lawsuit. 

Allegations in the Flywire Corporation (FLYW) Securities Class Action Lawsuit 

The plaintiffs say Flywire and some of its top execs misled investors by making some statements about the company’s financial condition that were either materially false or deceptive.  

In particular, the filed complaint calls out a number of Flywire’s press releases, SEC filings and earnings calls that downplayed the impact of Canadian and Australian student visa restrictions. The complaint quotes one of the company’s top executives who said in November 2024 that Flywire “has been and expects to continue to be a Rule of 40 company,” despite known visa-related disruptions. It also references the company’s projection of “low 20s” FX-neutral RLAS growth, which was later revised to 10–14%.

The Truth Emerges

Investors learned the truth on February 25, 2025: Flywire had overplayed its growth.  The company disclosed jaw-droppingly bad Q4 2024 results: a $0.12 per share loss and $117.6 million revenue cut.  The company cited “significant headwinds” and announced a 10% workforce reduction. During the earnings call, executives revealed double-digit declines in student visa issuance across major markets and projected over 30% revenue declines in Canada and Australia. These disclosures contrasted with prior statements minimizing the impact of visa policy changes.

Market Reaction

Irate investors quickly dumped their shares after the February 25, 2025 revelations. Overnight, Flywire’s stock dropped $6.59 per share, or 37.36%. 

Next Steps

• Submissions for lead plaintiff are due October 14, 2025.
• The Court will issue its order for lead plaintiff and counsel in the weeks after submissions are due.  
• The Court will then consider motion for class certification.   
• The Court will later consider a Motion to Dismiss.  

To learn if you are eligible for recovery under the FLYW securities class action lawsuit, visit the case submission page here.

Disclaimer: This shareholder alert is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for personalized guidance. No specific outcomes are guaranteed.