Hims & Hers Health accused of deceptive promotion and selling of illegitimate products.

The Gross Law Firm is investigating a potential securities class action against Hims & Hers Health, Inc. (NYSE: HIMS) regarding alleged false and misleading statements made between April 29, 2025, and June 23, 2025. The complaint alleges that Hims promoted and sold illegitimate versions of Wegovy®, putting patient safety at risk, and that there was a risk of termination of its collaboration with Novo Nordisk. Shareholders who purchased HIMS shares during this period are encouraged to contact the firm regarding possible lead plaintiff appointment.

Title: Hims & Hers Health Inc. Faces Securities Class Action Lawsuit

The Gross Law Firm is investigating a potential securities class action against Hims & Hers Health, Inc. (NYSE: HIMS) regarding alleged false and misleading statements made between April 29, 2025, and June 23, 2025. The complaint alleges that Hims promoted and sold illegitimate versions of Wegovy®, putting patient safety at risk, and that there was a risk of termination of its collaboration with Novo Nordisk. Shareholders who purchased HIMS shares during this period are encouraged to contact the firm regarding possible lead plaintiff appointment.

The investigation focuses on whether the company issued misleading statements and/or failed to disclose information pertinent to investors. Novo Nordisk announced on June 23, 2025, that it was terminating its collaboration with Hims & Hers Health, Inc. due to concerns about their illegal mass compounding and deceptive marketing. According to the press release, Hims & Hers failed to adhere to the law which prohibits mass sales of compounded drugs under the false guise of 'personalization' and are disseminating deceptive marketing that put patient safety at risk [1].

As a result of these allegations, shares of Hims & Hers fell by 31.7% in afternoon trading on June 23, 2025. The Gross Law Firm is seeking shareholders who purchased shares between April 29, 2025, and June 23, 2025, to contact them regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.

Hims & Hers Health has been facing significant challenges, including a decline in revenue and subscriber metrics following the termination of its collaboration with Novo Nordisk. The company's total revenue for the second quarter was $545 million, a 7% sequential decline. Revenue from its compounded GLP-1 weight-loss drugs dropped to $190 million, down from $230 million in the previous quarter [2].

Hagens Berman is also investigating investor claims, urging shareholders who suffered substantial losses to submit their losses now. The firm is seeking to determine whether earlier representations regarding the company's compounded weight-loss drug strategy and the Novo Nordisk partnership may have been misleading to investors [2].

The lead plaintiff deadline for this class action lawsuit is August 25, 2025. Shareholders are encouraged to contact the Gross Law Firm to discuss their rights and the possibility of being a lead plaintiff in the class action. There is no cost or obligation to participate in the case [1].

References:
[1] https://www.ainvest.com/news/hims-health-faces-lawsuit-alleged-misleading-statements-deceptive-promotion-knockoff-versions-wegovy-2508/
[2] https://www.globenewswire.com/news-release/2025/08/08/3130176/32716/en/HIMS-Shares-Decline-Amid-Lower-Revenue-Per-Order-For-GLP-1-Following-Novo-Nordisk-Collaboration-Termination-Securities-Class-Action-Pending-Hagens-Berman.html