HIMS CEO Family Trust Sells $33M Shares Following Novo Nordisk Accusations - Hagens Berman

San Francisco, California--(Newsfile Corp. - August 14, 2025) - On August 7, 2025, the Dudham Family Heritage Trust sold 660,000 shares of Hims & Hers Health (NYSE: HIMS) for total proceeds of over $33 million. The move is notable for its size and comes after two sharp declines amid pharmaceutical giant Novo Nordisk's decision to abruptly cancel its two-month-old collaboration with Hims to expand the availability of one of two FDA-approved weight loss drugs -- Wegovy® -- and Hims' subsequent reporting of disappointing financial results.

Novo Nordisk's decision, accompanied by serious accusations, triggered the pending securities class action lawsuit against Hims & Hers, in which investors with substantial losses have the opportunity (until August 25, 2025) to move the court for appointment as Lead Plaintiff.

Shareholder rights firm Hagens Berman is investigating the legal claims and urges Hims & Hers investors who suffered substantial losses to submit your losses now.

Class Period: Apr. 29, 2025 - June 23, 2025
Lead Plaintiff Deadline: Aug. 25, 2025
Visit: www.hbsslaw.com/investor-fraud/hims
Contact the Firm Now: HIMS@hbsslaw.com
844-916-0895

Hims and Hers August 4, 2025 Financial Disclosures

The company's total revenue for the second quarter was $545 million, a 7% sequential decline. Revenue from its compounded GLP-1 weight-loss drugs dropped to $190 million, down from $230 million in the previous quarter. Importantly, Hims acknowledged that it would have lower revenue recognized per order specific to its compounded GLP-1 and that its revenue per subscriber slipped to $74 from $84 "primarily as a result of the off-boarding of a portion of our GLP-1 subscribers."

The news sent shares down nearly 11% in a single trading day.

The company's adverse metrics follow a shift in its business model after the U.S. Food and Drug Administration ended the mass compounding of certain weight-loss drugs. In response, Hims has moved toward selling personalized, smaller-dose compounded versions of drugs like Wegovy® and bragged about, then shortly lost, its collaboration with Novo Nordisk, the maker of Wegovy®, who has publicly characterized Hims' mass personalization of weight loss drugs as an illegal practice.

Investor Lawsuit Alleges Deceptive Promotion

The company's legal challenges intensified with the filing of securities class action lawsuits, captioned Sookdeo v. Hims & Hers Health, Inc. and Yaghsizian v. Hims & Hers Health, Inc. The complaints, filed on behalf of investors, alleges that Hims and its executives made false and misleading statements to investors during the period of April 29 to June 23, 2025.

According to the suit, the company was engaged in the "deceptive promotion and selling of illegitimate, knockoff versions of Wegovy® that put patient safety at risk," and as a result, there was a substantial risk that its collaboration with Novo Nordisk would be terminated. The lawsuit claims that on June 23, 2025, Novo Nordisk issued a press release announcing it was ending the partnership, citing Hims' "deceptive promotion and selling of illegitimate, knockoff versions of Wegovy®." On this news, the price of Hims stock fell more than 34%.

Hagens Berman Investigates Investor Claims

Hagens Berman is investigating investors' claims. Reed Kathrein, a partner at the firm, stated, "The decline in GLP-1 drug revenue and subscriber metrics this quarter appears significant and raises questions about whether earlier representations regarding the company's compounded weight-loss drug strategy and the Novo Nordisk partnership may have been misleading to investors, as alleged in the complaint."

If you invested in Hims & Hers and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now »

If you'd like more information and answers to frequently asked questions about the Hims & Hers case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Hims & Hers should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email HIMS@hbsslaw.com.

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About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

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