Investors Eye Class Action Against Hims & Hers After FTC Privacy Probe

The complaint, filed in the United States District Court for the Northern District of California under the caption Velanki v. Hims & Hers Health, Inc., centers on claims that the company concealed its practice of sharing sensitive consumer health data with third-party advertising platforms, including Meta Platforms and Snap. Plaintiffs further allege that Hims & Hers misrepresented its medical consultation process, charging customers for prescriptions immediately after intake forms were submitted, rather than providing the promised medical provider oversight.

Market volatility followed these revelations. On July 29, 2026, after the Federal Trade Commission initiated a lawsuit against the firm for deceptive privacy practices, Hims & Hers shares dropped $4.32, or 14.73%, to close at $25.00. The law firm Kessler Topaz Meltzer & Check, LLP is currently evaluating claims for investors seeking to recover losses. Participation in the litigation is voluntary, and investors may opt to remain absent class members or pursue independent counsel.