Hims & Hers Health, Inc. Faces Securities Fraud Allegations

Strategic Insights -

Hims & Hers Health, Inc. ("Hims & Hers" or the "Company") is facing a class action lawsuit filed by Pomerantz LLP, alleging securities fraud and unlawful business practices. The lawsuit concerns whether Hims & Hers and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. Investors who purchased or otherwise acquired Hims & Hers securities during the Class Period, from April 29, 2025, to June 23, 2025, may be eligible to participate in the lawsuit. The complaint alleges that Hims & Hers engaged in deceptive promotion and selling of illegitimate, knockoff versions of Wegovy(R), a drug manufactured by Novo Nordisk, that put patient safety at risk.

Key Takeaways:

  • The lawsuit alleges that Hims & Hers engaged in securities fraud and unlawful business practices by promoting and selling fake versions of Wegovy(R), a drug manufactured by Novo Nordisk.
  • Novo Nordisk terminated its partnership with Hims & Hers due to the company's deceptive practices, citing the sale of illegitimate, knockoff versions of Wegovy(R) that put patient safety at risk.
  • The cessation of the partnership led to a significant drop in Hims & Hers' stock price, falling $22.24 per share, or 34.63%, to close at $41.98 per share on June 23, 2025.
  • Pomerantz LLP, the law firm behind the lawsuit, has a long history of fighting for the rights of victims of securities fraud, breaches of fiduciary duty, and corporate misconduct.
  • The lawsuit aims to appoint a Lead Plaintiff for the class and recover damages on behalf of class members who purchased or otherwise acquired Hims & Hers securities during the Class Period.

Statistics:

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  • Hims & Hers' stock price fell $22.24 per share, or 34.63%, to close at $41.98 per share on June 23, 2025, following Novo Nordisk's announcement of the termination of their partnership.
  • The lawsuit has a Class Period of April 29, 2025, to June 23, 2025, during which time investors who purchased or otherwise acquired Hims & Hers securities may be eligible to participate in the lawsuit.

Sources:

  • "Pomerantz LLP Announces the Filing of a Class Action against Hims & Hers Health, Inc. (NYSE:HIMS)." July 14, 2025. GLOBE NEWSWIRE.
  • "Pomerantz LLP." Pomerantz LLP.
  • "Contact: Danielle Peyton." Pomerantz LLP.