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For more than 30 years, Cabling Installation & Maintenance has provided useful, practical information to professionals responsible for the specification, design, installation and management of structured cabling systems serving enterprise, data center and other environments. These professionals are challenged to stay informed of constantly evolving standards, system-design and installation approaches, product and system capabilities, technologies, as well as applications that rely on high-performance structured cabling systems. Our editors synthesize these complex issues into multiple information products. This portfolio of information products provides concrete detail that improves the efficiency of day-to-day operations, and equips cabling professionals with the perspective that enables strategic planning for networks’ optimum long-term performance.

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GOODRX (NASDAQ: GDRX) INVESTOR ALERT: June 21, 2024 Lead Plaintiff Deadline - Contact Kaplan Fox & Kilsheimer LLP

NEW YORK, NY - (NewMediaWire) - May 13, 2024 - Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) reminds investors that a complaint has been filed on behalf of purchasers or acquirers of GoodRx Holdings, Inc. (“GoodRx” or the “Company”) (NASDAQ: GDRX) common stock between September 23, 2020 and November 8, 2022 (the “Class Period”).  Click Here to Join Investigation.

If you acquired GoodRx common stock during the Class Period and have suffered losses, you may click here to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.

Deadline Reminder:  If you are a member of the proposed Class, you may move the court no later than June 21, 2024 to serve as a lead plaintiff for the purported class.  If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.

GoodRx operates a price comparison platform for prescription drugs which, in many cases, offers consumers access to lower prices (through discount codes and coupons) for their medications. As alleged in the complaint, GoodRx generates most of its revenue from contracts with pharmacy benefit managers (“PBMs”) who agree to pay GoodRx a commission on prescription drug purchases made by consumers who use GoodRx’s discount codes and coupons at participating pharmacies. The complaint also alleges that GoodRx generates a portion of its revenue from subscription plans like the “Kroger Rx Savings Club,” which provides “access [to] lower prescription prices at” pharmacies operated by The Kroger Co. (“Kroger”).

According to the complaint in connection with GoodRx’s initial public offering on September 23, 2020, and throughout the remainder of the Class Period, Defendants continuously touted the Company’s strong relationships with pharmacies as a significant element of its business plan. Among other things, GoodRx repeatedly highlighted the Kroger Rx Savings Club. Critically, however, according to the complaint, Defendants never informed investors of the material risk that Kroger, which accounted for nearly 25% of GoodRx’s prescription transactions revenue, could unilaterally refuse to accept GoodRx’s discounts.

On May 9, 2022, as alleged in the complaint, investors began to learn the truth about the risks of GoodRx’s over dependence on Kroger (including the risk that, notwithstanding the Kroger Rx Savings Club, Kroger could unilaterally refuse to accept GoodRx’s discounts), when GoodRx revealed that, late in the first quarter of 2022, “a grocery chain had taken actions that impacted acceptance of discounts from most PBMs for a subset of drugs” and that this “impacted the acceptance of many PBM discounts for certain drugs at this grocer’s stores.” Further, according to the complaint, GoodRx acknowledged that this disruption “could have an estimated revenue impact of roughly $30 million” in the second quarter of 2022 - resulting in the Company announcing disappointing second quarter 2022 revenue guidance of only about $190 million. While Defendants did not identify the grocer by name, the complaint alleges that analysts and media outlets quickly recognized that the unnamed grocery chain was Kroger.

Following this news, the price of GoodRx common stock fell $2.78 per share, more than 25%, from a close of $10.75 per share on May 9, 2022, to close at $7.97 per share on May 10, 2022. 

Then, on November 8, 2022, according to the complaint, Defendants provided further information on the severity of the revenue impact from the Kroger disruption - with the Company estimating that the “impact of the grocer issue on third quarter [prescription transactions revenue] was approximately $40 million” and that the Company expected “a combined $45 million to $50 million estimated impact to prescription transactions revenue” for the fourth quarter of 2022.

Following this news, the price of GoodRx common stock declined $1.18 per share, more than 22%, from a close of $5.24 per share on November 8, 2022, to close at $4.06 per share on November 9, 2022.

WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey.  With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand.  Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients.  For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

If you have any questions about this Notice, your rights, or your interests, please contact:

Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail:
lking@kaplanfox.com

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