Hims & Hers Faces Securities Fraud Investigation After Novo Nordisk Ends Partnership

Hims & Hers Health, Inc. is under multiple investigations by prominent law firms, including the Law Offices of Howard G. Smith, Kessler Topaz Meltzer & Check, LLP, and Block & Leviton, for potential violations of federal securities laws following Novo Nordisk's termination of its partnership with Hims. Novo Nordisk accused Hims of engaging in illegal mass compounding and deceptive marketing of semaglutide-based weight-loss drugs, specifically alleging the sale of knock-off drugs with unsafe ingredients. This announcement caused Hims' stock price to plummet over 20-32% during intraday trading, significantly impacting investors. The investigations are focusing on whether Hims misled investors through its disclosures and violated securities laws, potentially leading to legal actions to recover investor losses. Additionally, the loss of access to Novo Nordisk's Wegovy product may adversely affect Hims' revenue and market position. Investors who suffered losses are encouraged to contact the investigating law firms, and whistleblowers with non-public information are invited to assist in the probe under the SEC whistleblower program.