Hims & Hers Health, Inc. (NYSE: HIMS) Accused of 'Illegal Mass Compounding and Deceptive Marketing' Practices; Investors Urged to Contact Award-Winning Firm, Gibbs Mura
OAKLAND, Calif.--(BUSINESS WIRE)--Gibbs Mura announces that on June 25, 2025, a lawsuit was filed against Hims & Hers Health, Inc. ('Hims and Hers') on behalf of investors who purchased or acquired Hims & Hers securities between April 29, 2025, and June 23, 2025. Shares of Hims & Hers previously fell over 33% in intraday trading on Monday, June 23, 2025, after Novo Nordisk announced it was ending its collaboration with the telehealth company following concerns that it was engaging in 'deceptive promotion and selling of illegitimate, knockoff versions of [weight loss drug] Wegovy that put patient safety at risk.' Gibbs Mura encourages investors to contact us about their legal rights and options in the Hims & Hers Health, Inc. (NYSE: HIMS) Securities Class Action Lawsuit.
What Should Hims & Hers Investors Do?
If you invested in HIMS, visit our Hims & Hers Health, Inc. lawsuit investigation webpage, or call us at (888) 410-2925 to get more information about how you may be able to recover your losses. Our investigation concerns whether Hims & Hers has violated federal securities laws by providing false or misleading statements to investors.
What is the Hims & Hers Lawsuit Investigation About?
On June 23, 2025, Novo Nordisk announced it was terminating its collaboration with Hims and Hers following concerns that it was reportedly engaging in deceptive marketing practices and illegally promoting cheaper knock-off versions of the weight loss drug, Wegovy.
In April 2025, Novo Nordisk said it would offer Wegovy through a number of telehealth companies, including Hims & Hers, following the end of a Wegovy shortage. The end of this shortage 'meant compounding pharmacies were legally restricted from making and selling cheaper, unapproved versions of the drug by May 22 – with rare exceptions,' as reported by CNBC. Then, on Monday, June 23, 2025, Novo Nordisk issued a statement that it was terminating its relationship with Hims and Hers because the company 'failed to adhere to the law which prohibits mass sales of compounded drugs under the false guise of 'personalization,'' adding that the company is 'disseminating deceptive marketing that put patient safety at risk.'
The lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and specifically failed to disclose to investors that Hims and Hers was engaged in the 'deceptive promotion and selling of illegitimate, knockoff versions of Wegovy that put patient safety at risk' and 'as a result, there was a substantial risk that the Company's collaboration with Novo Nordisk would be terminated.'
About Gibbs Mura, A Law Group
Gibbs Mura represents investors nationwide in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world's largest corporations, and our attorneys have received numerous honors for their work, including 'Best Lawyers in America,' 'Top Plaintiff Lawyers in California,' 'California Lawyer Attorney of the Year,' 'Class Action Practice Group of the Year,' 'Consumer Protection MVP,' and 'Top Women Lawyers in California.'
This press release may constitute Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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