GoodRx Holdings, Inc. (GDRX) Overreliance on Large Customer Case

The defendant has requested the court to dismiss the case.

C.D. California

Court

2:24-cv-3282

Case number

09/23/2020

Class period Start

11/08/2022

Class period End

06/21/2024

Lead Plaintiff motion deadline

$GDRX stockholder filed a claim vs. GoodRx Holdings for failing to disclose risks of losing 25% of Company's primary revenue stream.
When this information became public, $GDRX fell 25.8%, losing $259M+ of shareholder value.
GoodRx investors can join this case to be notified about potential recovery.

On 9 May, 2022, GoodRx revealed that

while Kroger accounted for less than 5% of the pharmacies accepting GoodRx discounts, it generated 25% of GoodRx’s total prescription transactions revenue (the Company’s primary revenue stream), and
Kroger could unilaterally cease accepting GoodRx discounts, cutting off some or all of GoodRx’s revenues for purchases at Kroger’s pharmacies.

On this news, on 10 May, 2022, $GDRX fell more than 25.8% and lost over $259 million of its market capitalization.

One of the investors has already filed a class action against the Company for hiding the risk of a major revenue drop in C.D. California court.

Case Status

Motion to dismiss

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

05/10/2022

Filing date

04/22/2022

Lead Plaintiff Deadline

06/21/2024