HIMS Lawsuit Alert! Hims & Hers Faces Class Action Lawsuit After Wegovy Scandal
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Hims & Hers is an American telehealth platform that connects consumers with licensed healthcare professionals and medical treatments. Through the digital platform, consumers can obtain prescription medications, over-the-counter treatments, personal care products, and supplements. The company recently partnered with pharmaceutical giant Novo Nordisk (NVO) to offer its U.S. FDA-approved weight-loss drug Wegovy on the Hims & Hers platform.
The company's claims about its partnership with Novo Nordisk and its future potential are at the heart of the current complaint.
Hims & Hers' Misleading Claims
According to the lawsuit, HIMS and two of its senior officers (the Defendants) repeatedly made false and misleading public statements throughout the Class Period. In particular, they are accused of omitting truthful information about the GLP-1 (glucagon-like peptide-1) injectables it makes available to consumers, and ancillary issues, from SEC filings and related material.
During the Class Period, Hims & Hers announced that it had partnered with Novo Nordisk and that American consumers could start accessing 'NovoCare Pharmacy directly through the Hims & Hers platform, with a bundled offering of all dose strengths of Wegovy and a Hims & Hers membership.' This offering included 24/7 care, continued clinical support, and nutrition guidance, all under one roof. HIMS also noted that patients can access all dose strengths of Wegovy in a high-quality pen, available for self-pay patients (without insurance or government aid).
Furthermore, in a shareholder letter issued on May 5, 2025, Hims expressed excitement over its 'innovative partnerships' that offer consumers greater choice within the weight-loss category. The company also highlighted its long-term collaboration with Novo Nordisk to expand affordable access to proven obesity care. This partnership was touted as a way to strengthen the platform's offerings with Novo Nordisk's innovative pipeline, enabling Hims to serve more customers, expand access to clinically proven treatments, and drive stronger health outcomes.
Finally, in its Q1FY25 quarterly report filed on May 5, Hims & Hers stated that its GLP-1 offerings generated about $230 million in Online segment Revenue, with a significant majority coming from personalized doses.
However, subsequent events (mentioned below) reveal that the defendants failed to disclose that the platform had started engaging in 'deceptive promotion and selling of illegitimate, knockoff versions of Wegovy that put patient safety at risk.'
Plaintiffs' Arguments
The plaintiffs maintain that the defendants deceived investors by lying and withholding critical information about the business practices and prospects during the Class Period. Importantly, the defendants are accused of misleading investors about their illegal practices used to boost Online sales, as well as the potential termination of their contract with Novo Nordisk.
The information became clear before the market opened on June 23, 2025, when Novo Nordisk issued a press release announcing that it was terminating its partnership with Hims & Hers. Novo Nordisk stated that it was ending the collaboration because Hims & Hers had engaged in dishonest promotional tactics and sold illegitimate, copycat versions of Wegovy, thereby putting patient safety at risk.
Moreover, Novo Nordisk explained that HIMS 'failed to adhere to the law, which prohibits mass sales of compounded drugs under the false guise of personalization.' Following the news, HIMS stock collapsed by 34.6% that same day.
To conclude, the defendants misled investors by engaging in deceptive and illegal practices to boost Online sales, which ultimately led to the termination of their lucrative contract with Novo Nordisk. Despite these issues, HIMS stock has surged over 108% so far this year.
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Adverse Reactions: The most common adverse reactions (incidence ≥5%) reported in clinical studies were vomiting, nausea, liver injury, pyrexia, and thrombocytopenia. Report negative side effects of prescription drugs to the FDA. Visit or call 1-800-FDA-1088. You may also report side effects to Sarepta Therapeutics at 1-888-SAREPTA (1-888-727-3782). For further information, please see the full Prescribing Information. About Sarepta TherapeuticsSarepta is on an urgent mission: engineer precision genetic medicine for rare diseases that devastate lives and cut futures short. We hold a leadership position in Duchenne muscular dystrophy (Duchenne) and are building a robust portfolio of programs across muscle, central nervous system, and cardiac diseases. For more information, please visit or follow us on LinkedIn, X, Instagram and Facebook. Forward-Looking StatementsThis statement contains "forward-looking statements." Any statements that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believe," "anticipate," "plan," "expect," "will," "may," "intend," "prepare," "look," "potential," "possible" and similar expressions are intended to identify forward-looking statements. These forward-looking statements include, without limitation, statements relating to our future operations, research and development programs, clinical trials and ELEVIDYS. Actual results could materially differ from those stated or implied by these forward-looking statements as a result of such risks and uncertainties. Known risk factors include the following: our products or product candidates may be perceived as insufficiently effective, unsafe or may result in unforeseen adverse events; our products or product candidates may cause undesirable side effects that result in significant negative consequences following any marketing approval; the possible impact of regulations and regulatory decisions by the FDA and other regulatory agencies on our business; and those risks identified under the heading "Risk Factors" in our most recent Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) as well as other SEC filings made by the Company, which you are encouraged to review. Any of the foregoing risks could materially and adversely affect the Company's business, results of operations and the trading price of Sarepta's common stock. For a detailed description of risks and uncertainties Sarepta faces, you are encouraged to review the SEC filings made by Sarepta. We caution investors not to place considerable reliance on the forward-looking statements contained herein. Sarepta does not undertake any obligation to publicly update its forward-looking statements based on events or circumstances after the date hereof, except as required by law. Internet Posting of InformationWe routinely post information that may be important to investors in the 'For Investors' section of our website at We encourage investors and potential investors to consult our website regularly for important information about us. Source: Sarepta Therapeutics, Inc. View source version on Contacts Investor Contact: Ian Estepan617-274-4052iestepan@ Media Contacts: Tracy Sorrentino617-301-8566tsorrentino@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
