1. Hims & Hers shares fell 25% after Novo Nordisk terminated their partnership. 2. Novo Nordisk cited deceptive marketing and illegal compounding in its decision. 3. Hims continued selling compounded treatments despite FDA approval of Wegovy. 4. Faruqi & Faruqi is investigating potential claims against Hims & Hers. 5. Investors who suffered losses are encouraged to seek legal advice.
The significant 25% drop indicates severe market reaction and loss of investor confidence. Historical precedent shows similar falls in stocks often lead to long-term struggles for recovery.
The market's reaction and ongoing legal inquiry could significantly affect stock performance.
Immediate investor concern due to legal scrutiny could lead to further price declines. Example: Similar situations often lead to heightened volatility immediately following bad news.
NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Hims & Hers Health, Inc. (“Hims & Hers” or the “Company”) (NYSE: HIMS).
Faruqil & 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.
Shares of Hims & Hers Health fell over 25% on June 23 after Novo Nordisk announced it was terminating its partnership with the company, citing “deceptive marketing” and “illegal mass compounding” of semaglutide-based weight-loss treatments. The collaboration between the two healthcare companies launched in April, and allowed Hims to offer Wegovy through its telehealth platform. According to Novo Nordisk, Hims continued selling compounded versions of semaglutide even after the FDA determined that Novo Nordisk's Wegovy was no longer in shortage.
To learn more about the Hims & Hers investigation, go to www.faruqilaw.com/HIMS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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