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Hims & Hers Class Action Lawsuit Filed, Investors Must Act by August 25, 2025
ByAinvest
Thursday, Jul 10, 2025 8:04 pm ET1min read
A class action lawsuit has been filed against Hims & Hers Health, Inc. alleging deceptive marketing and selling of illegitimate versions of Wegovy, a weight loss drug. The lawsuit claims that Hims & Hers failed to disclose this information to investors, resulting in a decline in the company's stock price. Investors have until August 25, 2025, to apply to the court to be appointed lead plaintiff.
SAN FRANCISCO, July 02, 2025 – Hims & Hers Health, Inc. (NYSE: HIMS) is facing two securities class action lawsuits alleging deceptive marketing and selling of illegitimate versions of Wegovy, a weight loss drug. The lawsuits, filed on June 25, 2025, seek to represent investors who purchased or otherwise acquired Hims & Hers securities between April 29, 2025, and June 23, 2025 [1].The lawsuits follow an announcement by Novo Nordisk that it terminated its collaboration with Hims & Hers due to concerns about the company’s sales and marketing practices of Wegovy. Novo Nordisk cited illegal mass compounding and deceptive marketing practices that put patient safety at risk [2]. This revelation led to a 30% crash in Hims & Hers shares on June 23, 2025.
The lawsuits allege that Hims & Hers made false and misleading statements while failing to disclose crucial information to investors. Specifically, they claim that the company was engaged in the deceptive promotion and selling of knockoff versions of Wegovy, which put patient safety at risk and jeopardized the collaboration with Novo Nordisk [1].
Investors have until August 25, 2025, to apply to the court to be appointed lead plaintiff in the case. National shareholders rights firm Hagens Berman is investigating the legal claims and urges Hims & Hers investors who suffered substantial losses to submit their claims now [1].
Hims & Hers Health, Inc. has not yet responded to the allegations, but the company is expected to file a response in the coming days. The outcome of the lawsuit could have significant implications for the company's stock price and reputation.
References:
[1] https://www.globenewswire.com/news-release/2025/07/07/3111059/32716/en/Hims-Hers-Health-Inc-HIMS-Faces-Securities-Class-Actions-After-Novo-Nordisk-Cancels-Partnership-Over-Deceptive-Marketing-of-Wegovy-Hagens-Berman.html
[2] https://www.geneonline.com/novo-nordisk-ends-partnership-with-hims-hers-over-alleged-illegal-compounding-of-glp-1-drugs/
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