Hims & Hers Faces Securities Class Action Following FTC Privacy Complaint

The litigation, spearheaded by Hagens Berman, centers on accusations that the telehealth provider systematically shared sensitive medical data with third-party advertising platforms like Meta and Snap. Regulators, including the FTC, the State of Utah, and the County of Los Angeles, claim these actions directly contradicted the company’s public assurances that it maintained rigorous technical and administrative safeguards to protect user information.

Beyond privacy concerns, the complaint alleges Hims violated the Restore Online Shoppers' Confidence Act by trapping customers in recurring subscription models. Prosecutors claim the company billed users for prescriptions before they ever consulted a medical provider and utilized deceptive interface designs to obstruct cancellation requests. These revelations sparked a sharp market reaction on July 29, 2026, when shares plummeted 14.7%, stripping $970 million from the company’s market capitalization in a single trading session. Reed Kathrein, a partner at Hagens Berman, stated the firm is now scrutinizing whether management intentionally concealed these internal control failures and the resulting financial exposure from investors.