Kirby McInerney LLP Announces an Investigation of Shareholder Claims on Behalf of GoodRx Holdings, Inc. (GDRX) Investors
The law firm of Kirby McInerney LLP is investigating potential claims against GoodRx Holdings, Inc. ("GoodRx" or the "Company") (NASDAQ: GDRX). The investigation concerns whether GoodRx has violated the federal securities laws and/or engaged in other unlawful business practices.
GoodRx's core business is a healthcare technology platform that provides consumers with a prescription discount card to get discounted pricing on prescription drugs.
On February 28, 2022, after the market closed, GoodRx announced disappointing fourth quarter 2021 and full-year earnings results and offered poor guidance for 2022. On this news, the price of GoodRx stock declined by $10.66 per share, or approximately 38.9%, from $27.40 per share to close at $16.74 per share on March 1, 2022.
On May 9, 2022, GoodRx announced its first quarter 2022 financial results and withdrew its fiscal 2022 guidance. In its shareholder letter, the Company stated that "a grocery chain had taken actions that impacted acceptance of discounts from most PBMs for a subst of drugs." The Company expects "the grocer issue . . . could have an estimated revenue impact of roughly $30 million [and] will be ongoing without amelioration through Q2." As a result, GoodRx "believe[s] it is unlikely [it] will be able to achieve the FY 2022 guidance" previously provided. On this news, the price of GoodRx stock declined by $2.78 per share, or approximately 25.86%, from $10.75 per share to close at $7.97 on May 10, 2022.
If you purchased or otherwise acquired GoodRx securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP's website: http://www.kmllp.com.
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