Hims & Hers Health Faces Lawsuit Over Alleged Misleading Statements and Deceptive Promotion of Knockoff Versions of Wegovy.

The Gross Law Firm is investigating Hims & Hers Health for allegedly issuing false and misleading statements about its promotion and sale of a weight loss medication. The 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 recover.

The Gross Law Firm has issued a notice to shareholders of Hims & Hers Health, Inc. (NYSE: HIMS), alleging that the company made materially false and misleading statements during a specific period. The firm is seeking shareholders who purchased shares between April 29, 2025, and June 23, 2025, to contact them regarding possible lead plaintiff appointment [1].

The complaint, filed on behalf of investors, alleges that during the class period, Hims engaged in the "deceptive promotion and selling of illegitimate, knockoff versions of Wegovy® that put patient safety at risk." This alleged activity led to a substantial risk that the company's collaboration with Novo Nordisk would be terminated. The lawsuit claims that the company's positive statements about its business, operations, and prospects were materially misleading and lacked a reasonable basis [2].

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 [3].

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].

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. The deadline to seek to be a lead plaintiff is August 25, 2025. There is no cost or obligation to participate in the case [1].

References:
[1] https://www.marketscreener.com/news/hims-hers-health-inc-sued-for-securities-law-violations-contact-the-gross-law-firm-before-augu-ce7c5edadf8bfe20
[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
[3] https://www.morningstar.com/news/pr-newswire/20250811ny47903/lost-money-on-hims-hers-health-inchims-join-class-action-suit-seeking-recovery-contact-the-gross-law-firm