Hims & Hers Health, Inc. (HIMS) Faces Securities Class Actions After Novo Nordisk Cancels Partnership Over “Deceptive” Marketing of Wegovy– Hagens Berman

Core Viewpoint - Hims & Hers Health, Inc. is facing two securities class action lawsuits following the termination of its collaboration with Novo Nordisk due to concerns over deceptive marketing practices related to the weight loss drug Wegovy® [1][2][4]. Group 1: Lawsuits and Allegations - The lawsuits, filed in Northern California, seek to represent investors who acquired Hims & Hers securities between April 29, 2025, and June 23, 2025 [1][3]. - Allegations include that Hims & Hers made false and misleading statements and failed to disclose critical information regarding the safety and legality of its marketing practices [4][5]. - The complaints specifically mention that the company engaged in deceptive promotion and selling of knockoff versions of Wegovy®, which posed risks to patient safety and jeopardized its collaboration with Novo Nordisk [4][5]. Group 2: Impact of Novo Nordisk's Decision - Novo Nordisk announced the termination of its collaboration with Hims & Hers on June 23, 2025, citing concerns over illegal mass compounding and deceptive marketing practices [2][5]. - The announcement led to a significant 30% drop in the share price of Hims & Hers [2]. - Novo Nordisk emphasized that Hims & Hers failed to comply with legal standards regarding the sale of compounded drugs, which raised serious patient safety concerns [5]. Group 3: Investigation and Investor Actions - Hagens Berman, a national shareholders rights firm, is investigating the legal claims and encourages affected investors to report their losses [3][6]. - The firm is also seeking information from individuals who may assist in the investigation, highlighting the potential for whistleblower rewards under the SEC Whistleblower program [6].