Lawsuit filed for Investors in shares of GoodRx Holdings, Inc. (NASDAQ: GDRX) I

An investor, who purchased shares of GoodRx Holdings, Inc. (NASDAQ: GDRX), filed a lawsuit over alleged Securities Laws violations by GoodRx Holdings, Inc.

Investors who purchased shares of GoodRx Holdings, Inc. (NASDAQ: GDRX) have certain options and for certain investors are short and strict deadlines running. Deadline: February 16, 2020. NASDAQ: GDRX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On August 28, 2020, GoodRx Holdings, Inc. filed with the Secruities and Exchange Commission (“SEC”) a Form S-1 Registration Statement (the “Registration Statement”) for its initial public offering (“IPO”), which was declared effective by the SEC on September 22, 2020.
On September 24, 2020, GoodRx Holdings, Inc. filed with the SEC its Prospectus for the IPO offering to sell to the public over 23.4 million Class A shares by the Company (excluding the underwriters’ option to purchase an additional 5.2 million common shares) and 11.2 million common shares by certain selling stockholders.

On September 25, 2020, GoodRx Holdings, Inc. closed its IPO. In the offering, the Company and certain existing stockholders sold over 39.8 million common shares for $33 per share, including the full exercise of the underwriters’ option, generating over $1.3 billion in gross offering proceeds.

Then on November 17, 2020, just weeks after GoodRx Holdings, Inc. completed its IPO, Amazon announced two new pharmacy offerings, a Prime Rx plan and a discount card program, which, among other things, would compete directly with GoodRx’s platform by making it “simple for customers to compare prices and purchase medications for home delivery, all in one place.” In response to this news, the price of GoodRx Class A common stock declined 23%, from $46.72 per share to $36.21 per share by market close on November 17, 2020.

Shares of GoodRx Holdings, Inc. (NASDAQ: GDRX) declined to as low as $33.51 per share on November 18, 2020.

The plaintiff claims that, at the time of the IPO, unbeknownst to investors, Amazon.com, Inc. (“Amazon”) was developing and would soon introduce its own online and mobile prescription medication ordering and fulfillment service that would directly compete with GoodRx. Defendants timed the IPO so that it was priced before Amazon announced its online pharmaceutical business to facilitate the IPO and create artificial demand for the common shares sold therein, as well to maximize the amount of money the Company and the selling stockholders could raise in the IPO. Given defendants’ knowledge of Amazon’s intention to enter the online pharmaceutical business, their statements in the Registration Statement and during the Class Period about GoodRx’s competitive position were materially false and/or misleading when made and caused GoodRx Class A common stock to trade at artificially inflated prices of more than $64 per share between September 23, 2020 and November 16, 2020.

Those who purchased shares of GoodRx Holdings, Inc. (NASDAQ: GDRX) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.