| COMPANY |
GoodRx Holdings, Inc. |
| COURT |
United States District Court for the Central District of California |
| CASE NUMBER |
20-cv-11444 |
| JUDGE |
The Honorable David O. Carter |
| CLASS PERIOD |
September 23, 2020 - May 10, 2021 |
| SECURITY TYPE |
Common stock |
Case Background:
On December 18, 2020, the initial complaint in this securities class action was filed against GoodRx Holdings, Inc. (“GoodRx” or the “Company”) and certain of GoodRx’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action brought on behalf of all persons who purchased or otherwise acquired GoodRx securities between September 23, 2020 through May 10, 2021, (the “Class Period”) both dates inclusive.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or concealing material averse facts. Specifically, the complaint alleges that GoodRx made false and misleading statement in its initial public offering (“IPO”) that created a scheme that: (1) deceived the investing public regarding GoodRx’s business, operations, services, competition, competitive market trends and present and future business prospects; (2) facilitated the Company’s September 2020 IPO; (3) created artificial demand for the GoodRx common shares sold in the IPO; (4) enabled the Company to receive $887 million in net proceeds from the sale of GoodRx common stock in the IPO; (5) enabled certain existing shareholders, including affiliates of the Individual Defendants, executive officers and Company employees, to collectively reap gross proceeds of more than $369 million from the sale of GoodRx common stock in the IPO; and (6) caused plaintiff and the Class to purchase GoodRx publicly traded common stock at artificially inflated prices.
Current Status of Case:
On June 7, 2021 Lead Plaintiff filed a consolidated complaint (the “Complaint”). Defendants filed a Motion to Dismiss the Complaint on August 6, 2021. On January 6, 2022, the Court granted Defendants’ Motion to Dismiss. On February 7, 2022, Lead Plaintiff filed an amended complaint (the “Amended Complaint”). On March 10, 2022, Defendants filed a Motion to Dismiss the Amended Complaint. On June 9, 2022, the Court granted Defendants’ Motion to Dismiss the Amended Complaint. This case has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.