Hims & Hers Health, Inc. Faces Lawsuit Over Alleged Securities Fraud

Hims & Hers Health, Inc. (HIMS) is facing a class action lawsuit alleging securities fraud between April 29, 2025, and June 23, 2025. The lawsuit claims that defendants made false statements and concealed that the company was engaged in deceptive promotion and selling of illegitimate versions of Wegovy, putting patient safety at risk, and that there was a substantial risk that the collaboration with Novo Nordisk would be terminated.

Hims & Hers Health, Inc. (HIMS) is under scrutiny following a class action lawsuit alleging securities fraud between April 29, 2025, and June 23, 2025. The lawsuit, filed by several law firms including Glancy Prongay & Murray LLP, The Gross Law Firm, and The Law Offices of Frank R. Cruz, claims that the company made false statements and concealed critical information regarding its business practices [1][2][3].

The complaint alleges that HIMS engaged in deceptive promotion and selling of illegitimate versions of Wegovy, a drug used for weight loss, which put patient safety at risk. Furthermore, the company did not disclose that there was a substantial risk of termination of its collaboration with Novo Nordisk due to these practices [1][2][3]. The lawsuit further claims that the defendants' positive statements about the company's business, operations, and prospects were materially misleading and lacked a reasonable basis [1][2][3].

The termination of the collaboration with Novo Nordisk on June 23, 2025, led to a significant decline in HIMS shares, falling by 31.7% in afternoon trading that day [2]. The company's total revenue for the second quarter of 2025 was $545 million, a 7% sequential decline, with revenue from its compounded GLP-1 weight-loss drugs dropping to $190 million [2].

Investors who purchased HIMS shares during the period in question are encouraged to contact the law firms involved to discuss their rights and the possibility of being a lead plaintiff in the class action lawsuit. The lead plaintiff deadline for this class action is August 25, 2025 [1][2][3].

References:
[1] https://www.morningstar.com/news/pr-newswire/20250821la56734/hims-hers-health-inc-hims-investors-who-lost-money-have-opportunity-to-lead-securities-fraud-lawsuit
[2] https://www.ainvest.com/news/hims-health-accused-deceptive-promotion-selling-illegitimate-products-2508/
[3] https://www.marketscreener.com/news/hims-hers-health-inc-hims-investors-who-lost-money-have-opportunity-to-lead-securities-fraud-l-ce7c51d2d08bf321