Lawsuit Filed Against Hims & Hers Health for Potential Securities Law Violations

Strategic Insights -

Hims & Hers Health, Inc., a telehealth platform, has been sued for alleged violations of federal securities laws by Bleichmar Fonti & Auld LLP. The lawsuit, filed in the U.S. District Court for the Northern District of California, claims that the company made false and misleading statements to investors about its partnership with Novo Nordisk and the sale of compounded semaglutide.

As a result of the alleged misconduct, Hims & Hers' stock price plummeted by over 34% on June 23, 2025, with a decline of $22.24 per share. The lawsuit seeks to represent investors who purchased Hims & Hers securities between April 29, 2024, and June 23, 2025. Investors have until August 25, 2025, to ask the Court to be appointed to lead the case.

Key Takeaways:

  • The lawsuit alleges that Hims & Hers made false and misleading statements to investors about its partnership with Novo Nordisk and the sale of compounded semaglutide.
  • The company allegedly touted and misrepresented the nature of its partnership with Novo Nordisk, including asserting that it could offer compounded semaglutide to its customers.
  • Hims & Hers also allegedly represented to investors that its sale of compounded semaglutide complied with FDA regulations.
  • The stock price of Hims & Hers Health declined by over 34% on June 23, 2025, with a decline of $22.24 per share.
  • Bleichmar Fonti & Auld LLP, a leading international law firm, is representing the investors in the lawsuit.
  • The firm has a track record of success in securities class actions, including recovering over $900 million from Tesla, Inc.'s Board of Directors and $420 million from Teva Pharmaceutical Ind. Ltd.

Statistics:

  • The stock price of Hims & Hers Health declined by $22.24 per share, or over 34%, on June 23, 2025.
  • The price drop occurred after Novo Nordisk announced the termination of the partnership due to Hims & Hers' alleged deception and sale of illegitimate versions of Wegovy.
  • The lawsuit seeks to represent investors who purchased Hims & Hers securities between April 29, 2024, and June 23, 2025.
  • Investors have until August 25, 2025, to ask the Court to be appointed to lead the case.

Sources:

  • https://www.bfalaw.com/cases-investigations/hims-hers-health-inc-class-action
  • Newsfile Corp., "Lawsuit Filed Against Hims & Hers Health, Inc. for Potential Securities Law Violations" (July 15, 2025)