Hims & Hers Faces Securities Class Action Over FTC Allegations

The legal action follows a July 29, 2026, complaint filed by the Federal Trade Commission, alongside authorities in Utah and Los Angeles County. Regulators allege that Hims & Hers compromised consumer privacy by sharing sensitive medical data with advertising platforms like Meta and Snap, despite public assurances regarding strict data safeguards. Furthermore, the complaint claims the company violated the Restore Online Shoppers' Confidence Act by charging users for prescriptions before medical consultations occurred and implementing "dark patterns" to complicate subscription cancellations.

Investors saw the company's market capitalization drop by $970 million—a 14.7% decline—on the day the FTC allegations surfaced. Hagens Berman, the law firm spearheading the investigation, argues that the company may have intentionally misled shareholders about the integrity of its internal controls and the potential for regulatory penalties. Investors who held stock between August 4, 2025, and July 29, 2026, have until November 2, 2026, to file as lead plaintiffs in the case.