The scrutiny stems from a July 29 lawsuit filed by the Federal Trade Commission, which accuses Hims of sharing private medical information with third-party advertisers, including Meta and Snap. The disclosure of these practices resulted in a 14.73% drop in the company's stock price. Pressure intensified on August 21 when reports surfaced that Visa placed Hims into its Acquirer Monitoring Program due to a surge in customer credit card disputes linked to its weight-loss subscription services. These disputes have triggered financial surcharges for the firm, contributing to a further 7.99% decline in stock value shortly after the news broke. Investors who suffered losses are now being encouraged to contact Danielle Peyton at Pomerantz LLP to discuss potential participation in class action litigation.
Pomerantz LLP Launches Investigation into Hims & Hers Health
A series of regulatory challenges and internal billing disputes has triggered a formal investigation by Pomerantz LLP into Hims & Hers Health. The firm is examining potential securities fraud and unlawful business practices following allegations regarding the company's handling of sensitive patient data and its subscription billing policies.
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