GoodRx Holdings, Inc. (NASDAQ: GDRX)

This lawsuit is for anyone who acquired securities in GoodRx Holdings, Inc. (NASDAQ: GDRX) from September 23, 2020, and November 8, 2022.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to timely inform investors that the Company was over-reliant on Kroger for 25% of the Company’s revenue, and that there was nothing stopping Kroger from unilaterally changing its dealings with the Company.

On May 9, 2022, after the market closed, GoodRx announced its first quarter 2022 financial results and withdrew its fiscal 2022 guidance. In its shareholder letter, the Company stated that “a grocery chain had taken actions that impacted acceptance of discounts from most PBMs for a subset of drugs.” The Company expects “the grocer issue . . . could have an estimated revenue impact of roughly $30 million [and] will be ongoing without amelioration through Q2.” As a result, GoodRx “believe[s] it is unlikely [it] will be able to achieve the FY 2022 guidance” previously provided. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on November 8, 2022, GoodRx disclosed 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. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in GoodRx Holdings, Inc. (NASDAQ: GDRX) from September 23, 2020, and November 8, 2022 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.