The litigation, Velanki v. Hims & Hers Health, Inc., covers investors who acquired company stock between August 4, 2025, and July 29, 2026. Plaintiffs allege that the company violated federal securities laws by withholding material information about its business operations. The legal action follows an FTC complaint filed on July 29, 2026, which accused Hims & Hers of sharing sensitive medical information with third-party advertising platforms and deceiving users about cancellation and billing procedures.
According to the FTC, the company charged patients for prescriptions immediately after intake forms were submitted, contradicting claims that users would consult with medical providers to determine appropriate treatments. Following the announcement of the FTC lawsuit, Hims & Hers shares dropped $4.32, or 14.73%, closing at $25.00 on July 29. Shareholders seeking information on the class action or their legal options can contact the firm Kahn Swick & Foti, LLC, or visit the ClaimsFiler portal.
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