Hims & Hers (HIMS) Stock Lawsuits: Investors Urged to Act - Hagens Berman

Core Viewpoint - Hims & Hers is facing a securities class action lawsuit due to allegations of misleading statements regarding its GLP-1 weight-loss drug business and a partnership with Novo Nordisk that was abruptly terminated [1][4][5] Group 1: Lawsuit Details - The class action lawsuit represents investors who acquired Hims & Hers securities between April 29, 2025, and June 23, 2025, alleging violations of the Securities Exchange Act of 1934 [3] - The lawsuit claims that Hims & Hers and its executives made false and misleading statements to investors, particularly concerning the partnership with Novo Nordisk [3][4] - The deadline for investors to apply as Lead Plaintiff is August 25, 2025 [2][3] Group 2: Allegations of Misconduct - The core allegations involve Hims & Hers' deceptive promotion and sale of "illegitimate, knockoff versions of Wegovy®," which allegedly jeopardized patient safety and led to the termination of the partnership with Novo Nordisk [4][5] - Novo Nordisk cited Hims & Hers' "deceptive promotion and selling" as the reason for ending the collaboration, which resulted in a stock price drop of over 34% on June 23, 2025 [2][5] Group 3: Investigations and Implications - The Federal Trade Commission (FTC) is investigating Hims & Hers over its advertising and subscription cancellation practices [6] - Hagens Berman is investigating whether Hims & Hers misled investors about its business practices, particularly regarding compounded weight-loss drugs and the terminated partnership [7][8] - The swift termination of the Novo Nordisk deal and the subsequent stock price collapse suggest a potential disconnect between what investors were told and the actual operations of Hims & Hers [8]