Investors Face November Deadline in Hims & Hers Securities Lawsuit
Investors who purchased Hims & Hers Health, Inc. securities between August 4, 2025, and July 29, 2026, have until November 2, 2026, to seek appointment as lead plaintiff in a pending class action lawsuit. The litigation follows allegations of deceptive billing practices and unauthorized data sharing with third-party advertising platforms.
The class action, filed as Velanki v. Hims & Hers Health, Inc. in the U.S. District Court for the Northern District of California, accuses the company and its top executives of violating the Securities Exchange Act of 1934. Plaintiffs claim the company misled shareholders by failing to disclose that it shared sensitive consumer health information with advertising giants like Meta and Snap while simultaneously misrepresenting its billing and prescription consultation processes.
Legal pressure intensified following an announcement from the Federal Trade Commission on July 29, 2026, regarding the company's data privacy and cancellation practices. The complaint alleges that Hims & Hers charged consumers for prescriptions immediately after intake forms were submitted, contradicting promises that users would first consult with a medical provider to determine appropriate treatment. Following the disclosure of the FTC’s findings, the company's stock price dropped nearly 15%. Investors seeking to serve as lead plaintiff in the case can contact attorneys Ken Dolitsky or Michael Albert at Robbins Geller Rudman & Dowd LLP to discuss the recovery process.
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