LOS ANGELES, Dec. 11, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises NowRX, Inc., (“NowRX” or the "Company") investors of a class action on behalf of investors that bought securities between February 1, 2022 and November 5, 2022, inclusive (the “Class Period”). NowRX investors have until January 23, 2026 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/nowRX-inc. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
CASE ALLEGATIONS: NowRx Inc. was a private Delaware corporation launched in 2016 headquartered in Mountain View, California, which described itself as a tech-powered pharmacy that provides same-day prescription delivery and telehealth services.
On September 30, 2021, NowRx commenced an offering pursuant to SEC Regulation A pursuant to which NowRx offered to sell up to 7,002,801 shares of NowRx Series C Preferred Stock, convertible into shares of Common Stock, at a price of $10.50 per share (the "September 2021 Offering") using an Offering Statement and supplements thereto for the offer and sale of Series C.
On November 30, 2022, NowRx announced it reached an agreement with Alto Pharmacy to acquire the business (California prescription files, etc.) effective immediately. The announced stated that "beginning December 2, 2022, Alto Pharmacy will provide all prescription delivery and services to NowRx patients, ensuring the continuity of high-quality service that NowRx customers have come to expect." As a result, the Series C stock investors lost their entire investment.
The NowRx class action lawsuit alleges that defendants throughout the Class Period failed to disclose: (i) material, adverse facts concerning NowRx's financial condition (ii) that NowRx was on the brink of bankruptcy or insolvency; (iii) that NowRx had hired an investment bank to explore a sale or raise significant funds so that it could continue operations; (iv) that as of December 31, 2021, NowRx was itself valued by an investment bank at $3.55 per share and this $3.55 per share price was far from the $10.50 per share price being sold by Defendants, and (v) as a result, investors in the C stock offering would likely lose their investment.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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