HIMS Investors Have Opportunity to Join Hims & Hers Health, Inc. Fraud Investigation With the Schall Law Firm
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Hims & Hers is the subject of an announcement by Novo Nordisk issued on June 23, 2025. According to Novo Nordisk, it is ending its relationship with the Company 'due to concerns about their illegal mass compounding and deceptive marketing.' According to the press release, 'the FDA resolved the Wegovy ® shortage based on its conclusion that Novo Nordisk is fully meeting current and projected nationwide demand for this medicine. In support of transitioning patients from knock-off compounded versions to authentic, FDA-approved Wegovy ® through NovoCare ® Pharmacy, Novo Nordisk began collaborating with telehealth companies. Over one month into the collaboration, Hims & Hers Health, Inc. has failed to adhere to the law which prohibits mass sales of compounded drugs under the false guise of 'personalization' and are disseminating deceptive marketing that put patient safety at risk.' Based on this news, shares of Hims & Hers fell by more than 32.4% in afternoon trading on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
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Forward-Looking Statements In addition to historical information, this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which describe the future plans, strategies and expectations of the Company. Forward-looking statements can be identified by the use of words such as 'estimate,' 'project,' 'believe,' 'intend,' 'anticipate,' 'assume,' 'plan,' 'seek,' 'expect,' 'will,' 'may,' 'should,' 'indicate,' 'would,' 'contemplate,' 'continue,' 'target' and words of similar meaning. Forward-looking statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Accordingly, you should not place undue reliance on such statements. We are under no duty to and do not take any obligation to update any forward-looking statements after the date of this report. Factors which could have a material adverse effect on the operations of the Company and its subsidiaries include, but are not limited to, changes in general economic conditions, interest rates and inflation; changes in asset quality; our ability to access cost-effective funding; fluctuations in real estate values; changes in laws or regulations; changes in liquidity, including the size and composition of our deposit portfolio and the percentage of uninsured deposits in the portfolio; changes in technology; failures or breaches of our IT security systems; our ability to introduce new products and services and capitalize on growth opportunities; changes in the value of our goodwill and other intangible assets; our ability to successfully integrate acquired operations or assets; changes in accounting policies and practices; our ability to retain key employees; and the effects of natural disasters and geopolitical events, including terrorism, conflict and acts of war. These risks and other uncertainties are further discussed in the reports that the Company files with the Securities and Exchange Commission. Average Balance Sheets The following tables set forth average balance sheets, average annualized yields and costs, and certain other information for the periods indicated. No tax-equivalent yield adjustments have been made, as the effects would be immaterial. All average balances are monthly average balances. Non-accrual loans were included in the computation of average balances. The yields set forth below include the effect of deferred fees, discounts, and premiums that are amortized or accreted to interest income or interest expense. For the Six Months Ended June 30, 2025 2024 (Dollars in thousands) Interest-earning assets: Loans $ 720,966 $ 21,843 6.11 % $ 673,282 $ 19,978 5.97 % Investment securities held-to-maturity 27,082 832 6.20 % 34,225 1,056 6.20 % Investment securities available-for-sale 39,465 679 3.47 % 47,875 942 3.96 % Interest-earning deposits and federal funds 65,896 1,385 4.24 % 50,527 1,296 5.16 % Other investments 6,206 189 6.14 % 5,467 171 6.29 % Total interest-earning assets 859,615 24,928 5.85 % 811,376 23,443 5.81 % Non-interest-earning assets 47,862 51,633 Total assets $ 907,477 $ 863,009 Interest-bearing liabilities: Interest-bearing checking accounts $ 82,740 $ 182 0.44 % $ 88,584 $ 217 0.49 % Money market accounts 161,502 2,421 3.02 % 143,243 2,258 3.17 % Savings accounts 81,370 1,147 2.84 % 74,093 1,054 2.86 % Certificates of deposit 247,512 5,021 4.09 % 219,315 4,571 4.19 % Total interest-bearing deposits 573,124 8,771 3.09 % 525,235 8,100 3.10 % FHLB advances and other borrowings 54,426 1,042 3.86 % 58,145 1,025 3.55 % Total interest-bearing liabilities 627,550 9,813 3.15 % 583,380 9,125 3.15 % Non-interest-bearing liabilities 152,991 156,177 Total liabilities 780,541 739,557 Total stockholders' equity 126,936 123,452 Total liabilities and stockholders' equity $ 907,477 $ 863,009 Net interest rate spread 2.70 % 2.66 % Net interest income $ 15,115 $ 14,318 Net interest margin 3.55 % 3.55 % Expand AFFINITY BANCSHARES, INC. Consolidated Balance Sheets (unaudited) June 30, 2025 (Dollars in thousands except per share amounts) Assets Cash and due from banks $ 5,876 $ 7,092 Interest-earning deposits in other depository institutions 83,790 34,333 Cash and cash equivalents 89,666 41,425 Investment securities available-for-sale 40,739 36,502 Investment securities held-to-maturity (estimated fair value of $24,724 net of allowance for credit losses of $37 at June 30, 2025 and estimated fair value of $27,286 net of allowance for credit losses of $45 at December 31, 2024) 24,366 27,299 Other investments 6,243 6,175 Loans 731,135 714,115 Allowance for credit loss on loans (8,542 ) (8,496 ) Net loans 722,593 705,619 Premises and equipment, net 3,075 3,261 Bank owned life insurance 16,690 16,487 Intangible assets 18,080 18,175 Other assets 12,347 11,874 Total assets $ 933,799 $ 866,817 Liabilities and Stockholders' Equity Liabilities: Non-interest-bearing checking $ 151,882 $ 151,395 Interest-bearing checking 83,713 73,841 Money market accounts 167,859 148,752 Savings accounts 89,084 76,053 Certificates of deposit 256,800 223,440 Total deposits 749,338 673,481 Federal Home Loan Bank advances and other borrowings 54,000 58,815 Accrued interest payable and other liabilities 6,361 5,406 Total liabilities 809,699 737,702 Stockholders' equity: Common stock (par value $0.01 per share, 40,000,000 shares authorized; 6,295,339 issued and outstanding at June 30, 2025 and 6,409,598 issued and outstanding at December 31, 2024) 63 64 Preferred stock (10,000,000 shares authorized, no shares outstanding) — — Additional paid in capital 61,197 62,355 Unearned ESOP shares (3,915 ) (4,378 ) Retained earnings 71,756 76,786 Accumulated other comprehensive loss (5,001 ) (5,712 ) Total stockholders' equity 124,100 129,115 Total liabilities and stockholders' equity $ 933,799 $ 866,817 Expand AFFINITY BANCSHARES, INC. Consolidated Statements of Income (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (Dollars in thousands except per share amounts) Interest income: Loans, including fees $ 11,195 $ 10,479 $ 21,843 $ 19,978 Investment securities 858 1,095 1,700 2,169 Interest-earning deposits 770 648 1,385 1,296 Total interest income 12,823 12,222 24,928 23,443 Interest expense: Deposits 4,525 4,099 8,771 8,100 FHLB advances and other borrowings 520 555 1,042 1,025 Total interest expense 5,045 4,654 9,813 9,125 Net interest income before provision for credit losses 7,778 7,568 15,115 14,318 Provision for credit losses 17 213 67 213 Net interest income after provision for credit losses 7,761 7,355 15,048 14,105 Noninterest income: Service charges on deposit accounts 337 391 653 786 Net gain on sale of other real estate owned — 135 — 135 Other 203 180 368 369 Total noninterest income 540 706 1,021 1,290 Noninterest expenses: Salaries and employee benefits 3,260 3,417 6,619 6,596 Occupancy 595 615 1,200 1,233 Data processing 550 508 1,093 1,019 Other 1,062 2,179 1,914 3,442 Total noninterest expenses 5,467 6,719 10,826 12,290 Income before income taxes 2,834 1,342 5,243 3,105 Income tax expense 682 311 1,260 739 Net income $ 2,152 $ 1,031 $ 3,983 $ 2,366 Weighted average common shares outstanding Basic 6,312,589 6,416,628 6,358,888 6,416,628 Diluted 6,457,397 6,544,450 6,504,838 6,534,751 Basic earnings per share $ 0.34 $ 0.16 $ 0.63 $ 0.37 Diluted earnings per share $ 0.33 $ 0.16 $ 0.61 $ 0.36 Expand Explanation of Certain Unaudited Non-GAAP Financial Measures Reported amounts are presented in accordance with GAAP. Additionally, the Company believes the following information is utilized by regulators and market analysts to evaluate a company's financial condition and, therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for financial results in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures which may be presented by other companies. Refer to the Non-GAAP Reconciliation tables below for details on the earnings impact of these items. For the Three Months Ended For the Year Ended Non-GAAP Reconciliation June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 Operating net income reconciliation Net income (GAAP) $ 2,152 $ 1,831 $ 1,345 $ 1,730 $ 1,031 $ 3,983 $ 2,366 Net loss on securities available for sale — — 385 — — — — ESOP Compensation expense related to dividend 210 211 — — — 421 Merger-related expenses — — 119 196 939 — 989 Income tax expense (46 ) (46 ) (111 ) (43 ) (207 ) (93 ) (218 ) Operating net income $ 2,316 $ 1,996 $ 1,738 $ 1,883 $ 1,763 $ 4,311 $ 3,137 Weighted average diluted shares 6,457,397 6,547,817 6,620,602 6,611,468 6,544,450 6,504,838 6,534,751 Adjusted diluted earnings per share $ 0.36 $ 0.30 $ 0.26 $ 0.29 $ 0.27 $ 0.66 $ 0.48 Tangible book value per common share reconciliation Book Value per common share (GAAP) $ 19.66 $ 19.25 $ 20.14 $ 20.02 $ 19.49 $ 19.52 $ 19.49 Effect of goodwill and other intangibles (2.86 ) (2.85 ) (2.84 ) (2.84 ) (2.85 ) (2.84 ) (2.85 ) Tangible book value per common share $ 16.80 $ 16.40 $ 17.30 $ 17.18 $ 16.64 $ 16.68 $ 16.64 Tangible equity to tangible assets reconciliation Equity to assets (GAAP) 13.29 % 13.40 % 14.90 % 14.61 % 14.32 % 13.29 % 14.32 % Effect of goodwill and other intangibles (1.71 )% (1.75 )% (1.81 )% (1.81 )% (1.83 )% (1.71 )% (1.83 )% Tangible equity to tangible assets (1) 11.58 % 11.65 % 13.08 % 12.80 % 12.49 % 11.58 % 12.49 % (1) Tangible assets is total assets less intangible assets. Tangible equity is total equity less intangible assets. Expand
