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GDRX.US
id: 1192
GoodRx Holdings, Inc. (GDRX) Overreliance on Large Customer Case
C.D. California
Court2:24-cv-3282
Case number23 Sept 2020
Class period Start08 Nov 2022
Class period End21 Jun 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
Lead Plaintiff Submission
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
10 May 2022
Filing date
22 April 2022
Lead Plaintiff Deadline
21 June 2024