HIMS Plunges 2% Amid Class-Action Lawsuits and Novo Nordisk Partnership Fallout $970M Volume Ranks 76th

On August 18, 2025, Hims & Hers Health (HIMS) traded with a volume of $970 million, ranking 76th in market activity for the day. The stock closed down 2.00%, reflecting investor caution ahead of pending legal developments.

Two class action lawsuits have emerged as key catalysts for volatility. Investors who purchased shares between April 29 and June 23, 2025, are being notified of a lead plaintiff deadline on August 25. The litigation centers on alleged misrepresentations regarding Hims’ collaboration with Novo Nordisk. Allegations include undisclosed risks about the termination of the partnership, which occurred on June 23 after Novo Nordisk cited concerns over the promotion of unauthorized Wegovy® alternatives. This partnership was initially highlighted as a strategic collaboration to expand patient access to weight-loss treatments.

Legal firms representing shareholders have emphasized the materiality of these disclosures, noting that the termination triggered a sharp market reaction. While the current decline is modest compared to the alleged 34% drop following the June announcement, ongoing litigation timelines and regulatory scrutiny remain critical for investor sentiment. The lawsuits highlight broader risks for telehealth companies navigating pharmaceutical partnerships and compounded drug offerings.

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