GoodRx Holdings, Inc. (GDRX) Investors: June 21, 2024 Filing Deadline in Securities Class Action - Contact Kessler Topaz Meltzer & Check, LLP
GoodRx Holdings, Inc. (GDRX) Investors: June 21, 2024 Filing Deadline in Securities Class Action - Contact Kessler Topaz Meltzer & Check, LLP |
[26-April-2024] |
RADNOR, Pa., April 26, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP informs investors that the firm has filed a securities fraud class action lawsuit against GoodRx Holdings, Inc. (NASDAQ: GDRX) ("GoodRx" or the "Company") on behalf of investors who purchased or acquired GoodRx common stock between September 23, 2020, and November 8, 2022, inclusive (the "Class Period"). This action, captioned Barsuli v. GoodRx Holdings, Inc., et al., Case No. Case 2:24-cv-03282- DDP-AJR was filed in the United States District Court for the Central District of California. Important Deadline Reminder: Investors who purchased or otherwise acquired GoodRx common stock during the Class Period may, no later than June 21, 2024, move the Court to serve as lead plaintiff for the class. If you suffered GoodRx losses, you may CLICK HERE or GO TO:https://www.ktmc.com/new-cases/goodrx-holdings-inc-1?utm_source=PR&utm_medium=link&utm_campaign=gdrx&mktm=r You can also contact attorney Jonathan Naji, Esq. of Kessler Topaz by calling (484) 270-1453 or by email at info@ktmc.com. DEFENDANTS' MISCONDUCT 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, however, Defendants never informed investors of the material risk that Kroger, which accounted for nearly 25% of GoodRx's prescription transactions revenue, could unilaterally refuse to accept GoodRx's discounts. On May 9, 2022, investors began to learn the truth about the risks of GoodRx's over-dependence on Kroger (including the risk that, notwithstanding the Kroger Rx Savings Club, Kroger could unilaterally refuse to accept GoodRx's discounts), when GoodRx 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 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 this news, the price of GoodRx common stock plummeted $2.78 per share, or more than 25%, from a close of $10.75 per share on May 9, 2022, to close at $7.97 per share on May 10, 2022. On November 8, 2022, Defendants 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. On this news, the price of GoodRx common stock declined an additional $1.18 per share, or more than 22%, from a close of $5.24 per share on November 8, 2022, to close at $4.06 per share on November 9, 2022. WHAT CAN I DO? CLICK HERE to sign up for the case or GO TO: https://www.ktmc.com/new-cases/goodrx-holdings-inc-1?utm_source=PR&utm_medium=link&utm_campaign=gdrx&mktm=r WHO CAN BE A LEAD PLAINTIFF? ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP CONTACT: Kessler Topaz Meltzer & Check, LLP View original content:https://www.prnewswire.com/news-releases/goodrx-holdings-inc-gdrx-investors-june-21-2024-filing-deadline-in-securities-class-action---contact-kessler-topaz-meltzer--check-llp-302128740.html SOURCE Kessler Topaz Meltzer & Check, LLP | ||
Company Codes: NASDAQ-NMS:GDRX |