Hims & Hers (HIMS) Stock Lawsuits: Investors Urged to Act – Hagens Berman

SAN FRANCISCO, Aug. 20, 2025 (GLOBE NEWSWIRE) — Investors who lost money in Hims & Hers (NYSE: HIMS) are being urged to actively participate in a securities class action lawsuit. The lawsuit alleges that Hims made misleading statements about its GLP-1 weight-loss drug business and its partnership with Novo Nordisk, which was abruptly canceled.

This comes after Hims stock plummeted by over 34% on June 23, 2025, when Novo Nordisk ended the collaboration, citing Hims’ “deceptive promotion and selling of illegitimate, knockoff versions of Wegovy®.”

If you suffered substantial losses, you may have the opportunity to serve as Lead Plaintiff. The deadline to apply is August 25, 2025. Hagens Berman urges Hims & Hers investors to submit your losses now.

Class Period: Apr. 29, 2025 – June 23, 2025
Lead Plaintiff Deadline: Aug. 25, 2025
Visit: www.hbsslaw.com/investor-fraud/hims
Contact the Firm Now: [email protected]
844-916-0895

The Lawsuit Against Hims & Hers

Class-action lawsuits are underway against Hims & Hers Health Inc., representing investors who bought or acquired company securities between April 29, 2025, and June 23, 2025. The lawsuit alleges that Hims & Hers and its top executives violated the Securities Exchange Act of 1934 by making false and misleading statements to investors.

Allegations of Misconduct

The core of the legal action revolves around Hims & Hers’ partnership with Novo Nordisk. The lawsuit claims the company was deceptively promoting and selling “illegitimate, knockoff versions of Wegovy®.” According to the complaint, Hims & Hers failed to disclose that this practice put patient safety at risk and could lead to the termination of the lucrative Novo Nordisk collaboration.

The Aftermath of the Partnership’s Collapse

On June 23, 2025, the alleged misrepresentations came to light when Novo Nordisk announced it was ending its partnership with Hims & Hers. The pharmaceutical company explicitly cited Hims & Hers’ “deceptive promotion and selling” of unauthorized versions of Wegovy® as the reason. This news caused Hims & Hers’ stock to plummet by over 34%.

In a separate development, Bloomberg News reported on August 14 that the Federal Trade Commission (FTC) is now investigating Hims & Hers over its advertising and subscription cancellation practices.

Hagens Berman Investigates Investor Claims

Hagens Berman, a national plaintiffs’ rights law firm, is investigating whether Hims & Hers may have misled investors about its business practices, particularly concerning its compounded weight-loss drugs and the terminated Novo Nordisk partnership.

Reed Kathrein, the Hagens Berman partner leading the investigation, commented on the situation, “This isn’t just about a failed partnership; it’s about whether the company’s business model was sustainable and properly represented to the market in the first place. The swift termination of the Novo Nordisk deal and the subsequent stock price collapse suggest there may have been a fundamental disconnect between what investors were told and the underlying reality of Hims’ operations.”

If you invested in Hims & Hers and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the Hims & Hers case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Hims & Hers should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Contact:
Reed Kathrein, 844-916-0895

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