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Class action lawsuits

Securities Law Firm Announces Lawsuit Against Hims & Hers Health, Inc.

Strategic Insights

— 1 min read

Hims & Hers Health, Inc. (NYSE: HIMS) has been sued for potential violations of federal securities laws by a leading securities law firm. The lawsuit, filed in the U.S. District Court for the Northern District of California, alleges that Hims & Hers and certain senior executives misrepresented the nature of their partnership with Novo Nordisk and sold illegitimate versions of the weight loss drug Wegovy. As a result, Hims & Hers' stock price plummeted, losing 34% of its value in a single day.

Key Takeaways:

  • The lawsuit, Sookdeo v. Hims & Hers Health, Inc., et al., No. 25-cv-05315, alleges that Hims & Hers and its senior executives violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
  • The plaintiffs claim that Hims & Hers misrepresented the nature of its partnership with Novo Nordisk, including the sale of compounded semaglutide, which is the active ingredient in Wegovy.
  • The lawsuit alleges that Hims & Hers' sale of compounded semaglutide did not comply with FDA regulations and put patients' safety at risk.
  • The price of Hims & Hers stock fell $22.24 per share, or 34%, from $64.22 per share on June 20, 2025, to $41.98 per share on June 23, 2025.
  • The case is pending in the U.S. District Court for the Northern District of California.
  • The lawsuit is not the only one against Hims & Hers, as a subsequent complaint, Yaghsizian v. Hims & Hers Health, Inc., et al., No. 25-cv-05321, was also filed alleging substantially similar claims.

Statistics:

  • The lawsuit alleges that Hims & Hers made $22.24 per share in losses, or 34%, on a single day.
  • The price of Hims & Hers stock dropped from $64.22 per share on June 20, 2025, to $41.98 per share on June 23, 2025.
  • The lawsuit is pending in the U.S. District Court for the Northern District of California.

Sources:

  • GlobeNewswire, New York, July 20, 2025
  • SEC filing, Sookdeo v. Hims & Hers Health, Inc., et al., No. 25-cv-05315
  • SEC filing, Yaghsizian v. Hims & Hers Health, Inc., et al., No. 25-cv-05321

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