Hims & Hers Health, Inc. (NYSE: HIMS) Securities Fraud Class Action

LEAD PLAINTIFF DEADLINE IS AUGUST 25, 2025.

If you have suffered losses and would like to discuss your rights, please fill out this form or you may contact Jonathan Naji, Esq. at (484) 270-1453 or via e-mail at info@ktmc.com.

Case Background:
Class action lawsuits have been filed on behalf of those who purchased or otherwise acquired Hims & Hers Health, Inc. (“Hims & Hers”) (NYSE: HIMS) securities between April 29, 2025, and June 23, 2025, inclusive (the “Class Period”).

The Class Period begins on April 29, 2025. On that day, Hims & Hers announced a long-term collaboration with Novo Nordisk, starting with the immediate sale of “a bundled offering of Novo Nordisk’s FDA-approved Wegovy on the Hims & Hers platform.” During an earnings call on May 5, 2025, Hims & Hers further touted the company’s partnership with Novo Nordisk, including that “through our new collaboration with Novo Nordisk, we're expanding access to branded Wegovy to bring subscribers on our platform an even broader range of choice. Branded Wegovy will be an additional option for subscribers and will complement our oral kit offering, liraglutide and personalized semaglutide options,” and that “This collaboration also signals something important, trust from a major pharmaceutical leader, and it sets the blueprint for future partnerships that can expand both our reach and our relevance.” 

On June 23, 2025, during pre-market hours, the pharmaceutical company Novo Nordisk announced it would no longer provide Hims & Hers with direct access to its FDA-approved weight loss drug Wegovy through NovoCare Pharmacy due to concerns about illegal mass compounding and deceptive marketing by Hims & Hers.  Specifically, Novo Nordisk explained that Hims & Hers allegedly failed to comply with laws prohibiting mass sales of compounded drugs and disseminated “deceptive marketing that put patient safety at risk."  On this news, Hims & Hers stock price fell $22.24 per share, or more than 34%, from a close of $64.22 per share on June 20, 2025, to close at $41.98 per share on June 23, 2025.

The complaints allege that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Hims & Hers was engaged in the “deceptive promotion and selling of illegitimate, knockoff versions of Wegovy that put patient safety at risk;” (2) as a result, there was a substantial risk that Hims & Hers’ collaboration with Novo Nordisk would be terminated; and (3) that, as a result of the foregoing, Defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
 

What is a Lead Plaintiff?

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case.  Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.