Hims & Hers Health Faces Fraud Investigation

The Schall Law Firm announces investigation into potential securities law violations by the telehealth company.

Published on Feb. 9, 2026

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The Schall Law Firm, a national shareholder rights litigation firm, has announced an investigation into claims on behalf of investors of Hims & Hers Health, Inc. (NYSE: HIMS) for violations of securities laws. The investigation focuses on whether the company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Hims & Hers is the subject of a statement by the FDA regarding its intent to restrict GLP-1 active pharmaceutical ingredients intended for use in non-FDA-approved compounded drugs, as well as a lawsuit filed by Novo Nordisk seeking to bar the company from selling compounded weight loss drugs.

Why it matters

This investigation raises concerns about Hims & Hers' business practices and transparency with investors. As a publicly traded telehealth company, Hims & Hers' actions and disclosures are under heightened scrutiny, and any findings of securities law violations could have significant legal and financial implications for the company and its shareholders.

The details

The Schall Law Firm is investigating whether Hims & Hers issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The investigation is focused on the FDA's statement regarding its intent to restrict GLP-1 active pharmaceutical ingredients intended for use in non-FDA-approved compounded drugs, as well as a lawsuit filed by Novo Nordisk seeking to bar Hims & Hers from selling compounded weight loss drugs.

  • On February 9, 2026, the Schall Law Firm announced the investigation.
  • On February 9, 2026, shares of Hims & Hers fell by more than 17.8% on afternoon trading.

The players

Hims & Hers Health, Inc.

A telehealth company that provides online access to healthcare services and products, including prescription medications, supplements, and other health-related items.

The Schall Law Firm

A national shareholder rights litigation firm that specializes in securities class action lawsuits and shareholder rights litigation.

U.S. Food and Drug Administration (FDA)

The federal agency responsible for regulating and supervising the safety of food, drugs, and other products in the United States.

Novo Nordisk

A global pharmaceutical company that specializes in diabetes care and other chronic conditions.

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What they’re saying

“The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Hims & Hers Health, Inc. ('Hims & Hers' or 'the Company') (NYSE: HIMS ) for violations of the securities laws.”

— The Schall Law Firm (Business Wire)

What’s next

The Schall Law Firm is encouraging shareholders who have suffered losses to contact the firm to discuss their rights and participate in the investigation. The firm is also seeking to determine if Hims & Hers violated securities laws through its actions and disclosures.

The takeaway

This investigation highlights the importance of transparency and accountability for publicly traded companies, especially in the rapidly evolving telehealth industry. Investors will be closely watching the outcome of this case, which could have significant implications for Hims & Hers and the broader telehealth sector.