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Class action lawsuits

Hims & Hers Class Action Lawsuit: Allegations and Lead Plaintiff Process

Strategic Insights

— 1 min read

A class action lawsuit, captioned Sookdeo v. Hims & Hers Health, Inc., has been filed against Hims & Hers and its top executives, alleging violations of the Securities Exchange Act of 1934. The lawsuit charges that Hims & Hers made false and/or misleading statements and/or failed to disclose its deceptive promotion and selling of illegitimate, knockoff versions of Wegovy, which put patient safety at risk. The lawsuit further alleges that Novo Nordisk terminated its partnership with Hims & Hers due to these activities, causing a significant decline in Hims & Hers stock price.

Key Takeaways:

  • Hims & Hers is a telehealth company that provides prescription medications, over-the-counter medications, and personal care products.
  • The lawsuit alleges that Hims & Hers made false and/or misleading statements and/or failed to disclose its deceptive promotion and selling of illegitimate, knockoff versions of Wegovy, which put patient safety at risk.
  • Novo Nordisk terminated its partnership with Hims & Hers on June 23, 2025, citing Hims & Hers' deceptive promotion and selling of illegitimate, knockoff versions of Wegovy.
  • The price of Hims & Hers stock fell more than 34% on June 23, 2025, according to the complaint.
  • The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Hims & Hers securities during the Class Period to seek appointment as lead plaintiff in the Hims & Hers class action lawsuit.
  • A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.
  • Robbins Geller Rudman & Dowd LLP is representing the plaintiffs in the Hims & Hers class action lawsuit.

Statistics:

  • 34% decline in Hims & Hers stock price on June 23, 2025.
  • $2.5 billion recovered by Robbins Geller Rudman & Dowd LLP for investors in securities-related class action cases in 2024.
  • $7.2 billion - the largest securities class action recovery in history, obtained by Robbins Geller in In re Enron Corp. Sec. Litig.

Sources:

  • Sookdeo v. Hims & Hers Health, Inc., No. 25-cv-05315 (N.D. Cal.).
  • Yaghsizian v. Hims & Hers Health, Inc., No. 25-cv-05321 (N.D. Cal.).
  • Robbins Geller Rudman & Dowd LLP, information page on past results.
  • Robbins Geller Rudman & Dowd LLP, contact information for J.C. Sanchez and Jennifer N. Caringal.

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