GoodRx Holdings, Inc
|Company Name||GoodRx Holdings, Inc|
|Class Period||September 23, 2020 to November 16, 2020|
|Lead Plaintiff Motion Deadline||February 16, 2021|
In September 2020, GoodRx completed its initial public offering (“IPO”), selling over 39.8 million common shares for $33 per share. GoodRx provides consumers with free information and tools to compare prices for prescription drugs. The Company primarily earns revenue from its prescription transaction fees.
On November 17, 2020, Amazon.com, Inc. (“Amazon”) announced two new pharmacy offerings, a Prime Rx plan and a discount card program, that would directly compete with GoodRx’s platform.
On this news, the Company’s stock price fell $10.51, or 23%, to close at $36.21 per share on November 17, 2020, thereby injuring investors.
The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Amazon had been in the process of developing and would soon introduce its own online and mobile prescription medication ordering and fulfillment service; and (2) that Amazon’s services would directly replicate and compete with the GoodRx business model.
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