Investors who acquired Hims & Hers Health Inc. securities during a proposed class period may ask to lead a federal lawsuit by Nov. 2, a deadline announced by law firm Hagens Berman.
Hagens Berman’s Oct. 23 alert says the proposed class covers investors who acquired the company’s securities from Aug. 4, 2025, through July 29, 2026. Investors seeking appointment as lead plaintiff must ask the court by Nov. 2. The date concerns who leads the litigation; it is not a settlement or payment deadline.
Hemalatha Velanki filed the proposed securities case in the Northern District of California on Sept. 1. The court docket lists investor Hemalatha Velanki as plaintiff and Hims, CEO Andrew Dudum and CFO Oluyemi Okupe as defendants.
Hagens Berman’s account of the complaint says investors challenge Hims’ statements about protections for health and personal information. The firm says the complaint alleges that Hims shared consumer health data with advertising platforms and charged for prescriptions soon after intake forms were submitted, even though consumers had been told they could consult a provider. The complaint also alleges the practices brought greater regulatory scrutiny and likely fees and penalties. Those claims have not been established in court.
The investor case is separate from a consumer-protection lawsuit filed July 29 by the Federal Trade Commission (FTC), Utah and California, acting through Los Angeles County Counsel. In its complaint, the FTC says Hims disclosed customer health data to third parties, including Meta and Snap, and alleges that consumers were charged for prescriptions after submitting intake forms and faced obstacles when canceling subscriptions.
Hims’ quarterly filing says the FTC issued a Civil Investigative Demand in October 2023 about privacy, advertising, subscriptions and cancellations. Hims said it cooperated with the inquiry, but settlement talks failed. As of June 30, 2026, the company reported an approximately $60 million legal contingency accrual for the FTC matter. That accrual is not a damages award in the investor lawsuit.
In a July response to the FTC case, Hims said it would defend itself against the allegations. Courthouse News Service reported that a Hims spokesperson also said the company would defend the securities claims. Investors seeking appointment to lead the case have until Nov. 2 to make that request.
