#United States #New York #Faruqi & Faruqi #securities claims #Hims Health

Recent Developments at Hims & Hers Health

Faruqi & Faruqi, LLP, a renowned national securities law firm, has been investigating claims on behalf of investors who have suffered losses in Hims & Hers Health, Inc. The firm is especially focused on those investors who experienced financial setbacks exceeding $50,000 between April 29, 2025, and June 22, 2025. Investors are encouraged to reach out directly to partner Josh Wilson for a detailed discussion about their legal options.

The Company Overview

Hims & Hers Health, Inc., publicly traded under the ticker 'HIMS' on the New York Stock Exchange, has become notable for its innovative telehealth services and wellness offerings. However, the company has recently faced scrutiny as a result of some alarming developments regarding its operations and partnerships.

Allegations Facing Hims

The investigation stems from allegations that Hims engaged in the deceptive promotion and distribution of illegitimate versions of the weight loss drug Wegovy®, which put patient safety at significant risk. Further inquiries have revealed that these actions might jeopardize the company's relationship with Novo Nordisk, the pharmaceutical giant that originally collaborated with Hims.

On June 23, 2025, Novo Nordisk officially announced the termination of its partnership with Hims, citing the company's failure to adhere to legal guidelines regulating the marketing and sale of compounded drugs. According to Novo Nordisk's statement, Hims was accused of promoting unsafe and potentially illicit products, with serious implications for their patient safety standards.

Immediate Impact on Investors

The fallout from these developments significantly affected Hims' stock market performance. After the termination announcement by Novo Nordisk, Hims' stock plummeted by 34.6%, resulting in a closing price of $41.98 on June 23, 2025. This sharp decline has left many investors feeling vulnerable and concerned about their investments.

Legal Proceedings and Deadlines

Faruqi & Faruqi has highlighted the approaching deadline of August 25, 2025, for investors to seek the role of lead plaintiff in the ongoing federal securities class action against Hims. A lead plaintiff is typically the investor who has the most financial interest at stake and is deemed typical of the rest of the class. This individual will oversee the litigation process and work to represent the interests of all affected investors.

Investors have the option to join this action and exercise their rights or remain absent and still retain the option to recover if the case is successful. The firm strongly encourages anyone with relevant information about the company’s conduct, including whistleblowers and former employees, to come forward, as their insights could be crucial in building a stronger case.

How to Participate

For more information about the claims regarding Hims & Hers Health or to learn how to participate in the ongoing class action lawsuit, individuals can visit the Faruqi & Faruqi website or contact partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

As this situation continues to unfold, investors are advised to stay informed and act promptly, as the implications for Hims & Hers Health could resonate across the market and regulatory landscape for the broader telehealth sector.