NEW YORK, April 23, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against GoodRx Holdings, Inc. ("GoodRx" or the "Company") (NASDAQ:GDRX) in the United States District Court for the Central District of California on behalf of all persons and entities who purchased or otherwise acquired GoodRx securities between September 23, 2020, and November 8, 2022, both dates inclusive (the "Class Period"). Investors have until June 21, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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GoodRx operates a price comparison platform for prescription drugs which, in many cases, offers consumers access to lower prices (through discount codes and coupons) for their medications. 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").
In connection with GoodRx's initial public offering 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. Critically, ...