Hims & Hers Health Inc. is facing a class action lawsuit filed by investors who acquired the company's securities between April 29, 2025, and June 23, 2025. The lawsuit, filed in the Northern District of California, accuses the company and its top executives of violating the Securities Exchange Act of 1934. The allegations claim that Hims & Hers engaged in the deceptive promotion and sale of illegitimate versions of Novo Nordisk's Wegovy®, posing a risk to patient safety. This deceptive practice allegedly led to Novo Nordisk terminating its collaboration with Hims & Hers, resulting in a significant drop in the company's stock price by over 34%. Investors who suffered substantial losses during this period have until August 25, 2025, to seek appointment as lead plaintiff in the case.
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