Hims & Hers Health, Inc. (HIMS) Stock Drop Lawsuit Investigation

A class action lawsuit has been filed against Hims & Hers Health, Inc. on behalf of investors who purchased or acquired Hims & Hers securities between April 29, 2025, and June 23, 2025.

 

We are investigating whether Hims & Hers Health, Inc. (NYSE: HIMS) misled or provided false statements to investors in violation of federal securities laws. This potential lawsuit seeks to help Hims & Hers Health, Inc. shareholders recover their losses.

On June 23, 2025, Novo Nordisk announced it was terminating its collaboration with Hims and Hers following concerns that it was reportedly engaging in deceptive marketing practices and illegally promoting cheaper knock-off versions of the weight loss drug, Wegovy.  

 

In April 2025, Novo Nordisk said it would offer Wegovy through a number of telehealth companies, including Hims & Hers, following the end of a Wegovy shortage. The end of this shortage “meant compounding pharmacies were legally restricted from making and selling cheaper, unapproved versions of the drug by May 22 – with rare exceptions,” as reported by CNBC. Then, on Monday, June 23, 2025, Novo Nordisk issued a statement that it was terminating its relationship with Hims and Hers because the company “failed to adhere to the law which prohibits mass sales of compounded drugs under the false guise of ‘personalization,’” adding that the company is “disseminating deceptive marketing that put patient safety at risk.” 

 

Following this announcement, shares of Hims and Hers plummeted over 33% in intraday trading on June 23, 2025, causing significant harm to investors.

 

Then, on June 25, 2025, a lawsuit was filed against Hims & Hers Health, Inc. (“Hims and Hers”) on behalf of investors who purchased or acquired Hims & Hers securities between April 29, 2025, and June 23, 2025. The lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and specifically failed to disclose to investors that Hims and Hers was engaged in the “deceptive promotion and selling of illegitimate, knockoff versions of Wegovy that put patient safety at risk” and “as a result, there was a substantial risk that the Company’s collaboration with Novo Nordisk would be terminated.”

Our securities lawyers have recovered over a billion dollars on behalf of our clients against behemoths, such as Chase Bank, Mastercard, and Anthem Blue Cross Blue Shield. Read more about our results.

 

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They “fought tooth and nail, down to the wire” to achieve “the best settlement that they could under the circumstances.”

 

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Gibbs Mura, A Law Group has more than two decades of experience prosecuting fraud. Our financial fraud and securities lawyers have successfully litigated against some of the largest companies in the United States, and has recovered more than a billion dollars on clients' behalf.

We represent individuals, whistleblowers, employees, and small businesses across the U.S. against the world's largest corporations. Our award-winning lawyers have achieved landmark recoveries and over a billion dollars for our clients in high-stakes class action and individual cases involving consumer protection, data breach, digital privacy, and federal and financial fraud lawsuits. Our attorneys have received numerous honors for their work, including “Top Plaintiff Lawyers in California,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” “Best Lawyers in America,” and “Top Cybersecurity/ Privacy Attorneys Under 40.