Hims & Hers Health, Inc. (HIMS) Shares Crash After Novo Nordisk Cancels Partnership Over "Deceptive" Marketing of Wegovy, Faces Investor Scrutiny- Hagens Berman

SAN FRANCISCO, June 25, 2025 /PRNewswire/ -- On June 23, 2025 investors in Hims & Hers Health, Inc. (NYSE: HIMS) saw the price of their shares crash over 30% after Novo Nordisk announced that it terminated its collaboration with the telehealth company due to concerns about Hims & Hers' sales and "deceptive" marketing of the weight loss drug Wegovy®.

This news has prompted national shareholders rights firm Hagens Berman to open an investigation into possible violations of the securities laws. The firm 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.

Visit: www.hbsslaw.com/investor-fraud/hims 

Contact the Firm Now: [email protected]
                                       844-916-0895

Hims & Hers Health, Inc. (HIMS) Investigation:

In the past, Hims & Hers has assured investors of its regulatory compliance, stating "[w]e are not bypassing the regulatory process[.]"

On April 29, 2025, the price of Hims & Hers shares skyrocketed after the company announced that it teamed up with Novo Nordisk to expand affordable access to healthcare.

The deal involved Novo Nordisk's FDA-approved Wegovy®, intended to treat obesity, and provided patient access to all dose strengths of Wegovy® through the NovoCare® pharmacy via Hims & Hers' platform along with a Hims & Hers membership.

The arrangement was short lived. On June 23, 2025, Novo Nordisk announced that it terminated the arrangement over its concerns about Hims & Hers' "illegal mass compounding and deceptive marketing." Novo further explained, "[o]ver one month into the collaboration, Hims & Hers Health, Inc. has failed to adhere to the law which prohibits mass sales of compounded drugs under false guise of 'personalization' and are disseminating deceptive marketing that put patient safety at risk[]" and "when companies engage in illegal sham compounding that jeopardizes the health of Americans, we will continue to take action."

"We're investigating whether Hims & Hers may have misled investors about whether it marketed knockoff versions of Wegovy® that could have put patients 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 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 [email protected].

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.

SOURCE Hagens Berman Sobol Shapiro LLP