NEW YORK, April 25, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, 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.
Class Definition:
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired GoodRx common stock between September 23, 2020 and November 8, 2022, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/GDRX.
Case Details:
GoodRx operates a price comparison platform for prescription drugs which, in many cases, offers consumers access to lower prices for their medications through discount codes and coupons. GoodRx generates most of its revenue from contracts with pharmacy benefit managers ("PBMs") who agree to pay GoodRx a commission on prescription drug purchases made by consumers who use GoodRx's discount codes and coupons at participating pharmacies. GoodRx also generates a portion of its revenue from subscription plans like the "Kroger Rx Savings Club," which provides "access [to] lower prescription prices at" pharmacies operated by The Kroger Co. ("Kroger").
According to the Complaint, in connection with GoodRx's initial public offering ("IPO") on September 23, 2020, and throughout the remainder of the Class Period, Defendants continuously touted the Company's strong relationships with pharmacies as a significant element of its business plan. Among other things, GoodRx repeatedly highlighted the Kroger Rx Savings Club—which provides "access [to] lower prescription prices at Kroger pharmacies, including over 100 common generic medications for free, $3.00, or $6.00 price points, and savings on more than 1,000 other generic medications." Critically, however, Defendants never informed investors of the material risk that ...