Hims & Hers Health, Inc. Faces Class Action Lawsuits Over Deceptive Marketing and Fake Wegovy Versions

Strategic Insights -

Hims & Hers Health, Inc., a telehealth company, has been hit with two securities class action lawsuits alleging that the company made false and misleading statements about its marketing of a weight loss drug. The suits claim that Hims & Hers engaged in deceptive promotion and selling of knockoff versions of Wegovy, putting patient safety at risk. This led to a significant price drop in the company's shares. The lawsuits were filed on June 25, 2025, and seek to represent investors who purchased Hims & Hers securities between April 29, 2025, and June 23, 2025.

Key Takeaways:

  • The two class action lawsuits were filed on June 25, 2025, against Hims & Hers Health, Inc. and its executives.
  • The cases aim to represent investors who purchased or acquired Hims & Hers securities between April 29, 2025, and June 23, 2025.
  • The lawsuits claim that Hims & Hers engaged in deceptive marketing and selling of knockoff versions of Wegovy, which put patient safety at risk.
  • The company's collaboration with Novo Nordisk was terminated due to concerns about Hims & Hers' sales and marketing practices.
  • The lawsuits allege that Hims & Hers made false and misleading statements to investors while failing to disclose crucial information.
  • The lead plaintiff deadline is August 25, 2025.
  • Hagens Berman, a national shareholders rights firm, is investigating the legal claims and urging Hims & Hers investors with substantial losses to submit their losses now.
  • The firm is also encouraging persons with knowledge who may be able to assist in the investigation to contact their attorneys.

Statistics:

  • The class period is April 29, 2025, to June 23, 2025.
  • Investors who purchased Hims & Hers securities during this period may be eligible to join the class action lawsuits.
  • The lawsuits claim that Hims & Hers' collaboration with Novo Nordisk was terminated over concerns about the company's sales and marketing practices.

Sources:

  • Sookdeo v. Hims & Hers Health, Inc., et al., No. 3:25-cv-05315 (N.D. Cal.) on June 25, 2025 (Source: Newsfile Corp.)
  • Yaghsizian v. Hims & Hers Health, Inc. et al., No. 3:25-cv-05321 (N.D. Cal.) on June 25, 2025 (Source: Newsfile Corp.)