NEW YORK–(BUSINESS WIRE)–The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of those who acquired GoodRx Holdings, Inc. (“GoodRx” or the “Company”) (NASDAQ: GDRX) securities during the period from September 23, 2020 through November 16, 2020 (the “Class Period”). Investors have until February 16, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit 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. The lawsuit 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 approximately 23%, from $46.72 per share to $36.21 by close on November 17, 2020.
If you purchased or otherwise acquired GoodRx securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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