The lawsuit, Velanki v. Hims & Hers Health, Inc., alleges the telehealth company misled shareholders regarding its business practices. According to the complaint, Hims & Hers failed to disclose that it shared consumer health information with third-party advertising platforms, including Meta and Snap. Furthermore, the company stands accused of charging customers for prescriptions immediately after an intake form submission, contradicting claims that users would first consult with medical providers to determine appropriate treatments.
Investors Target Hims & Hers Following FTC Privacy and Billing Lawsuit
Investors who purchased Hims & Hers Health securities between August 4, 2025, and July 29, 2026, have until November 2, 2026, to seek lead plaintiff status in a class action lawsuit. The litigation, filed in the Northern District of California, follows allegations of deceptive billing and the unauthorized sharing of sensitive health data.
Regulatory scrutiny intensified on July 29, 2026, when the Federal Trade Commission announced a lawsuit against the firm for these alleged deceptive practices. Following the revelation, Hims & Hers shares dropped nearly 15%. Robbins Geller Rudman & Dowd LLP is representing investors, noting that those who suffered substantial losses during the class period may apply to lead the litigation. Serving as lead plaintiff allows an investor to direct the case and select legal counsel, though individual recovery is not contingent upon holding this leadership role.
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