Hims & Hers Class Action Lawsuit: Authoritative, Instructive and Helpful Answers to 6 Excellent Frequently Asked Questions [2025]

The Hims & Hers class action lawsuit seeks to represent purchasers or acquirers of Hims & Hers Health, Inc. (NYSE: HIMS) securities between April 29, 2025 and June 23, 2025, inclusive (the “Class Period”).  Captioned Sookdeo v. Hims & Hers Health, Inc., No. 25-cv-05315 (N.D. Cal.), the Hims & Hers class action lawsuit charges Hims & Hers and certain of Hims & Hers’ top executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Hims & Hers class action lawsuit, or just have general questions about you rights as a shareholder, please contact attorney Timothy L. Miles of the Law Offices of Timothy L. Miles, at no cost, by calling 855/846-6529 or via e-mail at tmiles@timmileslaw.com.Lead plaintiff motions for the Hims & Hers class action lawsuit must be filed with the court no later than August 25, 2025.

LEAD PLAINTIFF DEADLINES

Read on for answers to six of the most often asked questions by investors about the Hims & Hers class action lawsuit.

1. What Is a Corrective Disclosure in a Securities Class Action Lawsuit?

A corrective disclosure in a securities class action lawsuit refers to the release of new information that rectifies or clarifies previous misstatements or omissions made by a company regarding its financial health, operations, or prospects. This disclosure typically emerges after the market has been misled by false or inaccurate statements, causing investors to make decisions based on incorrect data.

When the truth comes to light, it often results in a significant drop in the company’s stock price, thereby causing financial harm to shareholders who relied on the prior misinformation.

In the context of a class action lawsuit, such as the Hims & Hers class action lawsuit, a corrective disclosure is a pivotal element. Plaintiffs must prove that the company’s previous statements were materially misleading and that the corrective disclosure directly caused their financial losses.

The revelation should be substantial enough to demonstrate that investors’ decisions would have differed had they been aware of the actual situation. This process involves examining various factors, including the timing of the disclosure and its impact on stock prices.

Corrective disclosures serve a crucial role in maintaining market integrity and investor confidence. They ensure that companies are held accountable for their public statements and provide a mechanism for aggrieved investors to seek redress.

In cases like the Hims & Hers class action lawsuit, the court will scrutinize whether the corrective disclosure adequately informed investors of the genuine risks and financial realities that had been previously obscured. Ultimately, corrective disclosures are essential for upholding transparency and fairness within financial markets.

2. What Is the Lead Plaintiff Process Under the PSLRA?

The Lead Plaintiff Process under the Private Securities Litigation Reform Act (PSLRA) is a critical procedure designed to ensure that the most suitable and capable plaintiffs represent the interests of a class in securities litigation. This process begins when a lawsuit, such as the Hims & Hers lawsuit, is filed, and a notice is published to inform potential class members of the action and their right to move for appointment as lead plaintiff.

The PSLRA mandates that the court select as lead plaintiff the member or members of the purported plaintiff class that it determines to be most capable of adequately representing the interests of class members.

Typically, applicants for lead plaintiff status must file a motion with the court within 60 days of the date on which the notice was published. They are often required to demonstrate that they have a significant financial interest in the outcome of the case and meet other criteria indicating their ability to represent the class effectively.

The court then evaluates the various applicants based on their financial stake, experience in similar litigation, and willingness to oversee the case actively.

Once appointed, the lead plaintiff plays a crucial role in directing the litigation, making strategic decisions, and working closely with lead counsel to ensure that the case proceeds in an efficient and effective manner. This position carries significant responsibility, as the lead plaintiff’s actions can significantly impact all class members’ potential recovery.

In high-stakes cases such as those involving allegations of securities fraud, like the Hims & Hers lawsuit, having a competent and committed lead plaintiff is essential for achieving a favorable outcome for all affected parties.

3. What False Statements and Material Omissions Are Alleged in the Hims & Hers Lawsuit?

Hims & Hers is a telehealth company that provides prescription medications, over-the-counter medications, and personal care products.  According to the Hims & Hers lawsuit, on April 29, 2025, Hims & Hers announced a long-term collaboration with Novo Nordisk A/S, starting with the immediate sale of “a bundled offering of Novo Nordisk’s FDA-approved Wegovy® on the Hims & Hers platform.”

The Hims & Hers class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

1. Hims & Hers was engaged in the “deceptive promotion and selling of illegitimate, knockoff versions of Wegovy® that put patient safety at risk”; and
2. As a result, there was a substantial risk that Hims & Hers’ collaboration with Novo Nordisk would be terminated

The Hims & Hers class action lawsuit further alleges that on June 23, 2025, Novo Nordisk issued a press release announcing that it was terminating its partnership with Hims & Hers “based on Hims & Hers deceptive promotion and selling of illegitimate, knockoff versions of Wegovy® that put patient safety at risk.”

On this news, the price of Hims & Hers stock fell more than 34%, according to the Hims & Hers class action lawsuit.

4. When Is the Lead Plaintiff Deadline in the Hims & Hers Class Action Lawsuit?

Lead plaintiff motions for the Hims & Hers class action lawsuit must be filed with the court no later than August 25, 2025. When a securities class action is filed:

1. The person who files the first Hims & Hers lawsuit is required to publish a notice announcing the filing.
2. Anyone who wants to be the lead plaintiff on behalf of the class must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published.

5. What Are the Eligibility Criteria for Lead Plaintiff Appointment in the Hims & Hers Class Action Lawsuit?

To be eligible for appointment as the lead plaintiff in the Hims & Hers class action lawsuit, an investor must meet the following criteria:

1. Securities Acquisition: The investor must have purchased or acquired Hims & Hers Health, Inc. (NYSE: HIMS) securities between April 29, 2025 and June 23, 2025.
2. Financial Losses: The investor must have suffered financial losses as a direct result of the alleged securities fraud perpetrated by Hims & Hers and its executives.
3. Typicality and Adequacy: The investor’s legal claims must be typical of those asserted on behalf of the class, and they must demonstrate their ability to adequately represent the interests of the entire class through experience, resources, and the absence of conflicts of interest.

It is crucial to note that both domestic and international investors who meet these criteria are eligible to seek appointment as the lead plaintiff in the class action lawsuit, as courts have consistently recognized the rights of non-U.S. investors in securities class actions.

6. How Does the Court Determine the Lead Plaintiff Under the PSLRA?

Under the PSLRA, the court determines the lead plaintiff in a securities class action lawsuit through a specific process designed to ensure that the most suitable candidate represents the interests of the class. The PSLRA aims to curb frivolous lawsuits and appoint a lead plaintiff who has a substantial financial interest in the case, thereby ensuring that those who have truly suffered losses are at the forefront of the litigation.

Initially, once a class action lawsuit is filed, such as the Hims & Hers class action lawsuit, a notice is published to inform potential class members of the action and their rights. This notice typically outlines the nature of the claims and the deadline for class members to submit motions to be appointed as lead plaintiff. Interested parties must then file a motion with the court, demonstrating their willingness and ability to represent the class diligently.

The court evaluates these motions by considering several factors including the financial stake of each applicant in the litigation. The individual or entity with the largest financial interest is presumed to be the most adequate lead plaintiff, provided they meet other requirements such as typicality and adequacy under Rule 23 of the Federal Rules of Civil Procedure.

This principle is based on the notion that those with significant losses are most incentivized to vigorously pursue claims and secure favorable outcomes for all class members.

Moreover, in cases like the Hims & Hers class action lawsuit, courts also scrutinize potential conflicts of interest and ensure that the lead plaintiff can fairly and adequately protect the interests of all class members. They assess whether the proposed lead plaintiff has sufficient resources and experience, or if they possess any unique defenses that might hinder their ability to advocate fully for the entire class.

After careful consideration, including reviewing submitted evidence and hearing arguments if necessary, the court appoints a lead plaintiff. This appointment is crucial as it influences subsequent steps in litigation, including selection of lead counsel, case strategy, and settlement negotiations.

In summary, through this meticulous process under the PSLRA, courts strive to appoint a lead plaintiff who exemplifies dedication and capability to manage complex securities litigation effectively, ensuring that class actions like the Hims & Hers class action lawsuit are led by individuals committed to achieving justice for all affected parties.