On June 23, 2025, Novo Nordisk announced the termination of its partnership with Hims & Hers, alleging that the company engaged in deceptive marketing and sold unapproved compounded versions of semaglutide. Following the announcement, shares of Hims & Hers declined by over 34% in intraday trading, reflecting investor concerns regarding regulatory compliance and reputational risks.

This suit alleges throughout the Class Period, Hims & Hers made materially false or misleading statements or omitted material information regarding the nature and regulatory status of its GLP-1 offerings, the associated risks, and the partnership with Novo Nordisk. The firm is examining whether Hims & Hers and certain executives violated federal securities laws by making false or misleading statements to investors.

Investors who purchased or acquired Hims & Hers securities between April 29, 2025 through June 22, 2025, may no later than August 25, 2025, seek to be appointed as a lead plaintiff representative of the class.