The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of GoodRx Holdings, Inc (NASDAQ: GDRX) who purchased shares between September 23, 2020 and November 16, 2020. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the GoodRx lawsuit alleges that at the time of the IPO, unbeknownst to investors, Amazon.com, Inc. 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, and their misleading statements about GoodRx’s competitive position made contemporaneously with that knowledge, defendants’ materially false and/or misleading statements alleged herein were made willfully and caused GoodRx common stock to trade at artificially inflated prices during the Class Period.
Shareholders have until February 16, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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