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Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against GoodRX Holdings, Inc.

To join this class action, please complete the following Investor Certification. 


    Plaintiff Certifies That:

    The following information is true and correct to the best of my knowledge, information and belief:

    1. I have reviewed the Complaint in this action and authorize the filing of this Certification as an exhibit to the Complaint, or any substantively similar complaint or amended complaint to be filed in the future. I retain the law office of Federman & Sherwood, and any other counsel with whom Federman & Sherwood deems appropriate to associate with, to pursue this action on my behalf on a contingency fee basis.

    2. If chosen, I am willing to serve as a representative party on behalf of the class (the “Class”), either individually or as part of a group on behalf of the Class as defined in the Complaint, including providing testimony at deposition or trial (if necessary). I am also willing to participate on an executive committee of shareholders.

    3. I made the following transaction(s) during the Class Period in GoodRX Holdings, Inc. (NASDAQ: GDRX) securities (which are the subject of this action) as follows:


    4. I did not purchase these securities at the direction of my attorney or in order to participate in a lawsuit under the Securities Act of 1933 or the Securities Exchange Act of 1934.

    5. During the 3-year period preceding the date of this Certification, I have not sought to serve, nor have I served, as a representative to any party or on behalf of any class in any action arising under the Securities Act of 1933 or the Securities Exchange Act of 1934.

    6. I will not accept any payment if chosen to serve as a representative party on behalf of the Class beyond my pro rata share of an award to the Class, or as otherwise ordered and approved by the Court, except for such reasonable costs and expenses directly relating to my service as a representative of the Class and as ordered and approved by the Court.












    By clicking on the button below, I intend to sign and execute this agreement and retain Federman & Sherwood to proceed on Plaintiff’s behalf on a contingency basis.

    Oklahoma City, OK (December 23, 2020) – On December 18, 2020, a securities class action lawsuit was filed in the United States District Court for the Central District of California against GoodRX Holdings, Inc. (NASDAQ: GDRX).  The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is September 23, 2020 through November 16, 2020.  More specifically, the 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. According to the GoodRx class action lawsuit, given defendants’ knowledge of Amazon’s intention to enter the online pharmaceutical business, their statements in the Registration Statement and during the Class Period about GoodRx’s competitive position were materially false and/or misleading when made and caused GoodRx Class A common stock to trade at artificially inflated prices of more than $64 per share during the Class Period.

    On August 28, 2020, GoodRx filed with the SEC a Form S-1 Registration Statement (the “Registration Statement”) for its initial public offering (“IPO”), which was declared effective by the SEC on September 22, 2020. On September 24, 2020, GoodRx filed with the SEC its Prospectus for the IPO offering to sell to the public over 23.4 million Class A shares by the Company (excluding the underwriters’ option to purchase an additional 5.2 million common shares) and 11.2 million common shares by certain selling stockholders. On September 25, 2020, GoodRx closed its IPO. In the offering, the Company and certain existing stockholders sold over 39.8 million common shares for $33 per share, including the full exercise of the underwriters’ option, generating over $1.3 billion in gross offering proceeds.

    Then on November 17, 2020, just weeks after GoodRx completed its IPO, Amazon announced two new pharmacy offerings, a Prime Rx plan and a discount card program, which, among other things, would compete directly with GoodRx’s platform by making it “simple for customers to compare prices and purchase medications for home delivery, all in one place.” In response to this news, the price of GoodRx Class A common stock declined 23%, from $46.72 per share to $36.21 per share by market close on November 17, 2020.

    Plaintiff seeks to recover damages on behalf of all GoodRX Holdings, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above.  You may move the Court no later than Tuesday, February 16, 2021 to serve as a lead plaintiff for the entire Class.  However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

    If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact:  Robin Hester at rkh@federmanlaw.com

     

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