Faruqi & Faruqi Reminds Hims & Hers Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of August 25, 2025 - HIMS
1. Faruqi & Faruqi is investigating securities claims against Hims.
2. Complaints allege Hims sold misleading drug versions risking patient safety.
3. Novo Nordisk ended its partnership with Hims due to legal compliance failures.
4. Hims' stock dropped 34.6% following Novo Nordisk's termination announcement.
5. Investors have until August 25, 2025, to seek lead plaintiff status.
The termination of Novo Nordisk’s partnership suggests severe operational risks and investor sentiment decline, similar to historical cases where partnership losses led to significant stock price declines.
How important is it?
The investigation and partnership termination directly undermine Hims’ credibility and operational integrity, making significant impact on its financial health likely.
Why Short Term?
Immediate investor reactions to the lawsuit and partnership termination can severely affect Hims' stock in the coming months.
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Hims To Contact Him Directly To Discuss Their Options
If you purchased or acquired securities in Hims between April 29, 2025 and June 22, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
NEW YORK, July 15, 2025 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Hims & Hers Health, Inc. ("Hims" or the "Company") (NYSE: HIMS) and reminds investors of the August 25, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California, and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (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.
On June 23, 2025, Novo Nordisk announced that it was ending its partnership with Hims, stating that Hims "has failed to adhere to the law which prohibits mass sales of compounded drugs under the false guise of 'personalization' and are disseminating deceptive marketing that put patient safety at risk." Novo Nordisk further stated "the 'semaglutide' active pharmaceutical ingredients that are in the knock-off drugs sold by telehealth entities and compounding pharmacies" may contain "unsafe and illicit foreign ingredients."
On this news, Hims' stock price fell $22.24, or 34.6%, to close at $41.98 per share on June 23, 2025, thereby injuring investors.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Hims' conduct to contact the firm, including whistleblowers, former employees, shareholders, and others.
To learn more about the Hims & Hers Health class action, go to www.faruqilaw.com/HIMS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
