BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased GoodRx Holdings, Inc. (“GoodRx” or the “Company”) (NASDAQ: GDRX) Class A common stock between September 23, 2020 and November 16, 2020 inclusive (the “Class Period”). GoodRx investors have until February 16, 2021 to file a lead plaintiff motion.
Investors suffering losses on their GoodRx investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
In September 2020, GoodRx completed its initial public offering (“IPO”), selling over 39.8 million common shares for $33 per share. GoodRx provides consumers with free information and tools to compare prices for prescription drugs. The Company primarily earns revenue from its prescription transaction fees.
On November 17, 2020, Amazon.com, Inc. (“Amazon”) announced two new pharmacy offerings, a Prime Rx plan and a discount card program, that would directly compete with GoodRx’s platform.
On this news, the Company’s stock price fell $10.51, or 23%, to close at $36.21 per share on November 17, 2020, thereby injuring investors.
The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Amazon had been in the process of developing and would soon introduce its own online and mobile prescription medication ordering and fulfillment service; and (2) that Amazon’s services would directly replicate and compete with the GoodRx business model.
If you purchased GoodRx Class A common stock, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.