Bensalem, Pa.– The Law Offices of Howard G. Smith has announced the filing of a securities fraud class action lawsuit against Hims & Hers Health, Inc. (NYSE: HIMS), following the abrupt termination of its partnership with pharmaceutical giant Novo Nordisk. The lawsuit covers investors who purchased Hims securities between April 29 and June 22, 2025, and alleges the company misled shareholders about key aspects of its business practices.
Investors have until August 25, 2025, to file a motion to serve as lead plaintiff in the case.
The legal action comes after Novo Nordisk released a statement on June 23 accusing Hims of promoting and selling unauthorized, compounded versions of the weight loss drug Wegovy under the guise of personalization. According to the press release, these knockoff drugs allegedly contained semaglutide ingredients sourced from unapproved suppliers in China and may have posed risks to patient safety.
Novo Nordisk said the move violated federal laws regulating compounded drugs and cited this as the reason for ending its partnership with Hims just two months after its launch.
Following the news, Hims’ stock plummeted by 34.6%, losing $22.24 to close at $41.98 on June 23 amid heavy trading volume.
The lawsuit alleges that Hims failed to disclose key risks to investors, including the nature of its marketing practices and the potential for regulatory backlash. It further claims the company misrepresented the strength of its business and partnerships, misleading shareholders during the class period.
