Hims & Hers Health, Inc. (HIMS) Faces Securities Class Actions After Novo Nordisk Cancels Partnership Over “Deceptive” Marketing of Wegovy– Hagens Berman
HIMS Investors with Losses Encouraged to Contact Hagens Berman
SAN FRANCISCO, June 26, 2025 (GLOBE NEWSWIRE) -- On June 25, 2025, two securities class action lawsuits were filed against Hims & Hers Health, Inc. (NYSE: HIMS) and certain of the company’s executives. Sookdeo v. Hims & Hers Health, Inc., et al., No. 3:25-cv-05315 (N.D. Cal.) and Yaghsizian v. Hims & Hers Health, Inc. et al., No. 3:25-cv-05321 (N.D. Cal.). Together, the cases seek to represent investors who purchased or otherwise acquired Hims & Hers securities between April 29, 2025 and June 23, 2025.
The lawsuits follow an announcement by Novo Nordisk that it terminated its collaboration with the telehealth company due to concerns about Hims & Hers’ sales and “deceptive” marketing of the weight loss drug Wegovy® which precipitated a 30% crash in the price of Hims & Hers shares.
National shareholders rights firm Hagens Berman continues to investigate the legal claims and urges Hims & Hers investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist in the investigation to contact its attorneys.
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: HIMS@hbsslaw.com
844-916-0895
Hims & Hers Health, Inc. (HIMS) Securities Class Actions:
The lawsuits allege that Hims & Hers made false and misleading statements while failing to disclose crucial information to investors. More specifically, the complaints allege that the company was engaged in deceptive promotion and selling of knockoff versions of Wegovy® that put patient safety at risk and, as a result, there was a substantial risk that Hims & Hers’ collaboration with Novo Nordisk would be terminated.
Investors learned the truth on June 23, 2025, when Novo Nordisk announced that it terminated the arrangement over its concerns about Hims & Hers’ “illegal mass compounding and deceptive marketing.” Novo further explained, “[o]ver one month into the collaboration, Hims & Hers Health, Inc. has failed to adhere to the law which prohibits mass sales of compounded drugs under false guise of ‘personalization’ and are disseminating deceptive marketing that put patient safety at risk[]” and “when companies engage in illegal sham compounding that jeopardizes the health of Americans, we will continue to take action.”
“We’re investigating whether Hims & Hers may have misled investors about whether it marketed knockoff versions of Wegovy that could have put patients and the collaboration with Novo Nordisk at risk,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
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 HIMS@hbsslaw.com.
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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