PHILADELPHIA, Jan. 7, 2021 /PRNewswire/ — Berger Montague is investigating potential securities fraud claims against GoodRx Holdings, Inc. («GoodRx» or the «Company») on behalf of investors who purchased GoodRx securities (NASDAQ: GDRX) between September 23, 2020 and November 16, 2020 (the «Class Period»).
If you purchased GoodRx securities during the Class Period, have questions concerning your rights or interests, or would like to discuss Berger Montague’s investigation, please contact attorneys Andrew Abramowitz at email@example.com or (215) 875-3015, or Donnell Much at firstname.lastname@example.org or (215) 875-4667, or contact us at www.bergermontague.com/goodrx.
According to a recently filed lawsuit, throughout the Class Period GoodRx and members of its senior management deceived investors by failing to disclose that at the time of the Company’s IPO in September 2020, Amazon.com, Inc. was preparing to launch its own mobile prescription fulfillment service that would directly compete with GoodRx. The suit accuses the Company of timing the IPO so that it was priced before Amazon announced its online pharmaceutical business, which the Company and the selling shareholders knew would adversely impact the price of GoodRx’s stock. Furthermore, the complaint alleges that when speaking to investors about GoodRx’s competitive environment, defendants specifically failed to mention Amazon’s imminent entry into the mobile prescription app space.
On November 17, 2020, when Amazon announced two new pharmacy offerings that would compete with GoodRx, Company shares plummeted $10.51 per share – or 23% – from $46.72 per share to $36.21 over the course of a single trading day.
If you purchased GoodRx securities during the Class Period, you may seek Court appointment as lead plaintiff to represent other injured investors in a class action. The lead plaintiff appointment deadline is February 16, 2021. You do not need to be a lead plaintiff to share in any potential Class recovery.
Whistleblowers: Persons with non-public information regarding GoodRx are encouraged to confidentially assist Berger Montague’s investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Andrew Abramowitz, Senior Counsel
Donnell Much, Associate
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