The litigation targets Hims & Hers Health (NYSE: HIMS) for conduct occurring between August 4, 2025, and July 29, 2026. According to the complaint, the company allegedly shared private medical data with platforms including Meta and Snap via tracking pixels. Furthermore, the suit claims Hims violated the Restore Online Shoppers' Confidence Act by enrolling users in recurring subscriptions and billing them before medical consultations took place.
The market impact was immediate on July 29, 2026, when shares plummeted by 14.7%, erasing approximately $970 million in market capitalization. Hagens Berman, the firm leading the investigation, is now soliciting information from investors who suffered losses during the class period. Reed Kathrein, a partner at the firm, stated that the inquiry centers on whether Hims intentionally misrepresented its internal controls and business practices to stakeholders. Investors have until November 2, 2026, to file for lead plaintiff status.
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