NEW YORK–(BUSINESS WIRE)–Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against GoodRx Holdings, Inc. (“GoodRx” or “the Company”) (NASDAQ: GDRX) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired GoodRx securities between September 23, 2020 to November 16, 2020, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/gdrx.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that at the time of the initial public stock offering (the “IPO”), the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Specifically, the complaint alleges that on September 23, 2020, GoodRX completed its IPO, selling about 34.6 million shares at $33.00 per share. The complaint alleges that Defendants timed the IPO before Amazon announced its online pharmaceutical business, making their statements in the Registration Statement and during the Class Period about GoodRx’s competitive position materially false and/or misleading. The lawsuit also alleges that due to these materially false and/or misleading statements, GoodRx Class A common stock traded at artificially inflated prices of more than $64 per share during the Class Period.
Then, just weeks later on November 17, 2020, Amazon announced its Prime Rx plan and 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.” Following this news, GoodRx Class A common stock dropped 23%, from $46.72 per share to $36.21 on November 17, 2020.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/gdrx or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in GoodRx you have until February 16, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
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