Investors who lost money with shares of GoodRx Holdings, Inc. (NASDAQ: GDRX) should contact the Shareholders Foundation in connection with pending Lawsuit

An investor, who purchased shares of GoodRx Holdings, Inc. (NASDAQ: GDRX), filed a lawsuit over alleged violations of Federal Securities Laws by GoodRx Holdings, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of GoodRx Holdings, Inc. (NASDAQ: GDRX) have certain options and for certain investors are short and strict deadlines running. Deadline: June 21, 2024. NASDAQ: GDRX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Santa Monica, CA based GoodRx Holdings, Inc., together with its subsidiaries, offers information and tools that enable consumers to compare prices and save on their prescription drug purchases in the United States. GoodRx Holdings, Inc conducted its initial public offering ("IPO") on September 23, 2020.

GoodRx Holdings, Inc. 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 Holdings, Inc.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").

On May 9, 2022, GoodRx Holdings, Inc. announced its first quarter 2022 financial results. GoodRx Holdings, Inc. revealed that, late in the first quarter of 2022, "a grocery chain had taken actions that impacted acceptance of discounts from most PBMs for a subset of drugs" and that this "impacted the acceptance of many PBM discounts for certain drugs at this grocer's stores." GoodRx Holdings, Inc. further acknowledged that this disruption "could have an estimated revenue impact of roughly $30 million" in the second quarter of 2022-resulting in the Company announcing disappointing second quarter 2022 revenue guidance of only about $190 million. While Defendants refused to identify the grocer by name, analysts and media outlets quickly recognized that the unnamed grocery chain was Kroger.
On November 8, 2022, GoodRx Holdings, Inc. reported its third quarter results. GoodRx Holdings, Inc. provided further information on the severity of the revenue impact from the Kroger disruption-with the Company estimating that the "impact of the grocer issue on third quarter [prescription transactions revenue] was approximately $40 million" and that the Company expected "a combined $45 million to $50 million estimated impact to prescription transactions revenue" for the fourth quarter of 2022. Defendants further acknowledged that the Company was seeking to enter into contractual relationships with pharmacies to prevent similar disruptions from occurring in the future.

Shares of GoodRx Holdings, Inc. (NASDAQ: GDRX) declined from $64.22 per share on September 29, 2020, to as low as $3.82 per share on November 09, 2024.

The plaintiff claims that between September 23, 2020, and November 8, 2022, the Defendants made materially false and/or misleading statements, as well as failed to disclose that: (1) while Kroger accounted for less than 5% of the pharmacies accepting GoodRx discounts, Kroger was responsible for nearly 25% of GoodRx's total prescription transactions revenue (the Company's primary revenue stream); and (2) Kroger could unilaterally cease accepting GoodRx discounts, cutting off some or all of GoodRx's revenues for purchases at Kroger's pharmacies; and (3) as a result, Defendants' representations about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.

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

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 lawsuits, 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.