Hims & Hers Health Faces Investor Probe After FTC Privacy Lawsuit

The federal complaint, filed in the Northern District of California by the FTC alongside officials from Utah and Los Angeles County, centers on two primary accusations. Regulators claim the telehealth company shared sensitive medical information with third-party advertising platforms like Meta and Snap through tracking pixels, despite marketing promises of strict privacy. Furthermore, the suit alleges the firm violated the Restore Online Shoppers' Confidence Act by trapping users in recurring subscription models before they even completed medical consultations.

Hagens Berman is now scrutinizing whether Hims & Hers management maintained sufficient internal controls and if the company’s public financial filings accurately disclosed these regulatory risks. Reed Kathrein, the partner leading the investigation, stated that the firm is evaluating the systemic implications for the company's historical financial reporting. Attorneys are currently soliciting information from investors who suffered losses and potential whistleblowers who may provide non-public details regarding the company’s internal compliance failures.