Flywire Corp. misled the market when it touted the sustainability of its growth, even though the payment platform company faced headwinds from Canada’s and Australia’s international student restrictions, an investor alleges.
Although Flywire operates in a variety of industries, its biggest vertical is education, Cole Hickman says in a proposed class action filed July 25 in the US District Court for the Eastern District of New York.
Canada announced caps on international student permit applications in 2024, following Australia’s student visa restrictions in 2023, but Flywire didn’t account for those developments’ potential negative effect on its revenue and growth, Hickman ...
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