Hims & Hers Health Faces Securities Class Action Lawsuit
Hims & Hers Health and its executives are facing a securities class action lawsuit following federal accusations of serious business misconduct. The suit alleges investors were misled about company practices.
Hims & Hers Health (NYSE: HIMS) and certain company executives are now facing a securities class action lawsuit. This action stems from a federal complaint filed by the U.S. Federal Trade Commission (FTC), which accuses the telehealth company of significant business misconduct.
Hagens Berman, a law firm investigating the claims, is encouraging HIMS investors who have suffered substantial losses to submit their information. The lawsuit covers the period from August 4, 2025, to July 29, 2026. The company's stock price fell sharply on July 29, 2026, erasing over $970 million from its market capitalization.
The complaint alleges that Hims & Hers shared sensitive consumer health information with third-party advertising platforms, including Meta Platforms (Facebook) and Snap. Furthermore, the company is accused of violating the Restore Online Shoppers' Confidence Act (ROSCA) by allegedly enrolling consumers in subscription services without proper consent and creating barriers to cancellation.
"We are focused on whether Hims may have intentionally misled investors about its business practices, including the adequacy of its internal controls, and financial ramifications of the alleged misconduct," stated Reed Kathrein, a Hagens Berman partner leading the investigation. Investors who wish to be considered as lead plaintiff have a deadline of November 2, 2026, to submit their losses.