The lawsuit, Velanki v. Hims & Hers Health, Inc., alleges the telehealth platform failed to disclose that it shared sensitive consumer health data with third-party advertising giants, including Meta Platforms and Snap. Furthermore, the complaint claims the company deceived users by charging for prescriptions immediately after intake form submission, contradicting promises that patients would consult a provider to determine the most appropriate treatment before payment.
Investors Target Hims & Hers Following FTC Privacy and Billing Lawsuit
Investors who purchased Hims & Hers Health, Inc. securities between August 4, 2025, and July 29, 2026, face a November 2 deadline to seek lead plaintiff status in a class action lawsuit. The litigation, filed in the Northern District of California, follows allegations that the company misled shareholders regarding data privacy and billing.
Regulatory pressure intensified on July 29, 2026, when the Federal Trade Commission announced its own legal action against the company over these same deceptive practices. The revelation triggered a sharp market reaction, with Hims & Hers shares falling nearly 15%. Robbins Geller Rudman & Dowd LLP, the firm representing the plaintiffs, asserts that these undisclosed regulatory risks rendered the company’s public statements about its business operations and financial prospects materially misleading throughout the class period.
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