Portnoy Law: Lawsuit Filed On Behalf of GoodRx Holdings, Inc. Investors
to join the case
LOS ANGELES, Dec. 21, 2020 (GLOBE NEWSWIRE) --
The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of GoodRx Holdings, Inc. (“GoodRx” or “the Company”) (NASDAQ: GDRX) investors that acquired securities between September 23, 2020 to November 16, 2020.
It is alleged in the complaint that GoodRx issued misleading and/or false statements and/or failed to disclose information pertinent to investors at the time of GoodRx’s initial public stock offering (the “IPO”). Specifically, it is alleged that GoodRx completed its IPO, selling about 34.6 million shares at $33.00 per share on September 23, 2020. It is alleged that Defendants timed the IPO before Amazon announced its online pharmaceutical business, which makes their statements in the Registration Statement and during the Class Period regarding the competitive position of GoodRx materially misleading and/or false. Due to these materially misleading and/or false statements, it is alleged that during the Class Period GoodRx Class A common stock traded at artificially inflated prices of more than $64 per share.
Then, on November 17, 2020, Amazon announced its Prime Rx plan along with a discount card program, which was said to make it “simple for customers to compare prices and purchase medications for home delivery, all in one place.” On November 17, 2020 GoodRx Class A common stock dropped 23%, from $46.72 per share to $36.21, following this news.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.