Securities Lawsuit Filed Against Hims & Hers Health, Inc. and Senior Executives

Strategic Insights -

A securities lawsuit has been filed against Hims & Hers Health, Inc. and certain of its senior executives for potential violations of federal securities laws. The lawsuit, captioned Sookdeo v. Hims & Hers Health, Inc., et al., No. 25-cv-05315, was filed in the U.S. District Court for the Northern District of California on July 18, 2025. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Hims & Hers securities.

The lawsuit alleges that Hims & Hers misrepresented the nature of its partnership with Novo Nordisk, a leading pharmaceutical company, and sold compounded semaglutide, a medication similar to Wegovy, without complying with FDA regulations. The partnership was terminated by Novo Nordisk in June 2025, after the company accused Hims & Hers of selling "illegitimate, knockoff versions" of Wegovy. The price of Hims & Hers stock fell by over 34% in the following days, resulting in significant financial losses for investors.

Key Takeaways:

  • Lawsuit alleges Hims & Hers misrepresented its partnership with Novo Nordisk and sold compounded semaglutide without complying with FDA regulations.
  • Investors who purchased Hims & Hers securities between April 29, 2025, and June 23, 2025, may be eligible to participate in the lawsuit.
  • The lawsuit seeks to recover financial losses suffered by investors due to Hims & Hers' alleged misconduct.
  • The firm representing the plaintiffs, Bleichmar Fonti & Auld LLP, has a track record of success in securities class actions and shareholder litigation, recovering over $1.3 billion in value from prominent companies.
  • Shareholders that invested in Hims & Hers Health, Inc. may be eligible for financial compensation for their losses.

Statistics:

  • Hims & Hers stock price fell by over 34% in the days following the announcement of the partnership termination.
  • The lawsuit alleges that Hims & Hers sold compounded semaglutide to its customers without complying with FDA regulations.
  • Novo Nordisk terminated the partnership with Hims & Hers in June 2025, citing Hims & Hers' "deceptive promotion and selling" of illegitimate versions of Wegovy.

Sources:

  • GlobeNewswire (July 18, 2025)
  • Sookdeo v. Hims & Hers Health, Inc., et al., No. 25-cv-05315 (U.S. District Court for the Northern District of California)
  • Novo Nordisk (June 23, 2025)
  • Bleichmar Fonti & Auld LLP (press release)