#Novo Nordisk #Wegovy #Hims & Hers

Hims & Hers Faces Multiple Lawsuits Following Novo Nordisk Fallout

On June 25, 2025, Hims & Hers Health, Inc. (NYSE: HIMS) found itself embroiled in legal turmoil as two securities class action lawsuits were filed against the company and several executives. These actions were triggered by Novo Nordisk’s decision to terminate its partnership with the telehealth company in light of serious allegations regarding deceptive marketing practices pertaining to the weight loss medication, Wegovy.

Background of the Issue

The lawsuits, identified as Sookdeo v. Hims & Hers Health, Inc. and Yaghsizian v. Hims & Hers Health, Inc., are filed in the Northern District of California. They collectively seek to represent shareholders who bought or acquired Hims & Hers securities between the dates of April 29, 2025, and June 23, 2025. The ramifications of Novo Nordisk’s announcement have echoed through the market, leading to a staggering 30% drop in Hims & Hers’ stock price.

National shareholders' rights firm, Hagens Berman, is spearheading the investigation of these claims, aiming to uncover deeper insights into how the alleged misleading practices affected investors. This legal scrutiny comes alongside accusations that Hims & Hers promoted and sold compromised versions of Wegovy, threatening both customer safety and the integrity of their collaboration with Novo Nordisk.

Allegations and Consequences

According to the allegations made in the lawsuits, Hims & Hers failed to abide by legal standards while marketing Wegovy, misrepresenting the nature and safety of their products. The cornerstone of these claims lies in the assertion that Hims & Hers was compounding drugs under the deceitful premise of personalization, which is strictly regulated by law. Novo Nordisk has taken a strong stance, asserting their commitment to patient safety and warning against practices they deemed harmful. They stated on discontinuing the partnership,