Law Offices of Howard G. Smith Encourages Hims & Hers Health, Inc. (HIMS) Investors To Inquire About Securities Fraud Class Action

Business Wire

16 hours ago

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Hims & Hers Health, Inc. ('Hims' or the 'Company') (NYSE: HIMS) securities between April 29, 2025 and June 22, 2025, inclusive (the 'Class Period'). Hims investors have until August 25, 2025 to file a lead plaintiff motion.
IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN HIMS & HERS HEALTH, INC. (HIMS), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.
Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at [e-mail], by telephone at [phone] or visit our website at www.howardsmithlaw.com.
What Happened?
On April 29, 2025, Hims announced a long-term collaboration with Novo Nordisk, starting with the immediate sale of 'a bundled offering of Novo Nordisk's FDA-approved Wegovy on the Hims & Hers platform.'
On June 23, 2025, before the market opened, Novo Nordisk issued a press release announcing that it was terminating its partnership with Hims, 'based on Hims & Hers deceptive promotion and selling of illegitimate, knockoff versions of Wegovy that put patient safety at risk.' The press release stated that Hims 'has failed to adhere to the law which prohibits mass sales of compounded drugs under the false guise of 'personalization.'' The press release further stated '[b]ased on Novo Nordisk's investigation, the 'semaglutide' active pharmaceutical ingredients that are in the knock-off drugs sold by telehealth entities and compounding pharmacies are manufactured by foreign suppliers in China' which 'FDA has never authorized or approved' and which may contain 'unsafe and illicit foreign ingredients.'
On this news, the Company's share price fell $22.24, or 34.6%, to close at $41.98 per share on June 23, 2025, on unusually heavy trading volume.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Hims was engaged in the 'deceptive promotion and selling of illegitimate, knockoff versions of Wegovy that put patient safety at risk;' (2) that, as a result, there was a substantial risk that the Company's collaboration with Novo Nordisk would be terminated; and (3) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Contact Us To Participate or Learn More:
If you purchased Hims securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020,
Telephone: [phone]
Email: [e-mail],
Visit our website at: www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.