Hims & Hers Health, Inc. (HIMS) Alleged “Deceptive” Marketing of Wegovy® Triggers Securities Class Actions – HIMS Investors with Losses Encouraged to Contact Hagens Berman

SAN FRANCISCO, July 17, 2025 (GLOBE NEWSWIRE) -- On June 25, 2025, securities class action lawsuits were filed against Hims & Hers Health, Inc. (NYSE: HIMS) and certain of the company’s executives. The cases seeks to represent investors who purchased or otherwise acquired Hims & Hers securities between April 29, 2025 and June 23, 2025.

The lawsuits follow an announcement by Novo Nordisk, the Danish maker of the FDA-approved weight-loss medication Wegovy® (a GLP-1 treatment for obesity), that it terminated its collaboration with Hims & Hers due to concerns about its sales and “deceptive” marketing of Wegovy®.

National shareholders rights firm Hagens Berman continues to investigate the legal claims and urges Hims & Hers investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist in the investigation to contact its attorneys.

Events Preceding The Lawsuits:

In May 2024, Hims & Hers began offering access to GLP-1s, first in the form of compounded injectable semaglutide, and in August 2024 in the form of branded (or FDA approved) injectable semaglutide. Certain aspects of the company’s GLP-1 compounding business were permitted by the FDA due to shortages of FDA approved GLP-1s. Novo Nordisk’s Wegovy® is one of two branded, FDA approved, GLP-1s.

On February 21, 2025, the FDA determined that the semaglutide product shortage had been resolved. This determination, in turn, placed a constraint on Hims & Hers’ ability to continue selling compounded semaglutide on its platform once its inventory sold out. This news sent the price of Hims & Hers shares sharply lower.

Then, during Hims & Hers’ February 24, 2025 Q4 2024 earnings call, management assured investors that “[w]e will continue to monitor and comply with regulatory requirements related to the GLP-1 shortages[.]”

Next, on April 29, 2025, the company announced a long-term collaboration with Novo Nordisk starting with the immediate sale of “a bundled offering of Novo Nordisk’s FDA-approved Wegovy® on the Hims & Hers platform.” This news sent the price of Hims & Hers shares sharply higher during the next two weeks.

Securities Class Actions Zero in on Company’s Assurances and GLP-1 Strategy

Legal actions filed in federal court allege that Hims & Hers issued repeated assurances to investors about its regulatory compliance, the robustness of revenue from its GLP-1 drug offerings, and the “tailwinds” presented by its collaboration with Novo Nordisk. Plaintiffs claim these assurances were misleading, contending that the company failed to disclose critical information about its business practices.

Allegations of Deceptive Marketing and Patient Risk

According to the complaints, Hims & Hers was engaged in what plaintiffs describe as the deceptive promotion and sale of unauthorized and knockoff versions of Wegovy®. Unknown to investors, the company’s conduct exposed patients to unknown risks and threatened the very foundation of the company’s relationship with Novo Nordisk.

The Collapse: Novo Nordisk Cites “Deceptive Marketing” and “Illegal Compounding”

The tension came to a dramatic head on June 23, 2025, when Novo Nordisk announced it was ending its arrangement with Hims & Hers. In a strongly worded statement, Novo accused its former partner of flouting U.S. regulations that prohibit the mass sale of compounded versions of branded drugs, instead selling such drugs under the guise of “personalization.” The pharmaceutical company asserted, “when companies engage in illegal sham compounding that jeopardizes the health of Americans, we will continue to take action”

This news sent the price of Hims and Hers shares crashing 30% lower

“We’re investigating whether Hims & Hers may have misled investors about whether it marketed knockoff versions of Wegovy that could have put patients and the collaboration with Novo Nordisk at risk,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Hims & Hers and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the Hims & Hers case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Hims & Hers should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email HIMS@hbsslaw.com.

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Contact:
Reed Kathrein, 844-916-0895

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.