Hims & Hers Health Faces Fraud Investigation

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

Apr. 1, 2026 at 6:18pm

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The Schall Law Firm, a national shareholder rights litigation firm, has announced an investigation into potential securities law violations by Hims & Hers Health, Inc. (NYSE: HIMS). The investigation focuses on whether the company issued false or misleading statements and failed to disclose information pertinent to investors. Hims & Hers is the subject of an FDA statement regarding the company's marketing of non-FDA-approved compounded drugs, as well as a lawsuit filed by Novo Nordisk seeking to bar Hims & Hers from selling certain weight loss products.

Why it matters

This investigation could have significant implications for Hims & Hers, a prominent telehealth company, if the Schall Law Firm uncovers evidence of securities law violations. The FDA's scrutiny of the company's marketing practices and the lawsuit from Novo Nordisk raise concerns about Hims & Hers' compliance with regulations, which could impact investor confidence and the company's future operations.

The details

The Schall Law Firm's investigation is focused on whether Hims & Hers issued false or misleading statements and failed to disclose information relevant to investors. This comes after the FDA announced its intent to restrict the use of certain active pharmaceutical ingredients (APIs) in non-FDA-approved compounded drugs that are being mass-marketed by companies, including Hims & Hers. Additionally, Novo Nordisk has filed a lawsuit against Hims & Hers, seeking to bar the company from selling compounded weight loss drugs.

  • On February 9, 2026, shares of Hims & Hers fell by more than 17.8% on afternoon trading following the news of the FDA's statement and the Novo Nordisk lawsuit.
  • The Schall Law Firm announced the investigation on April 1, 2026.

The players

Hims & Hers Health, Inc.

A telehealth company that offers a range of healthcare products and services, including prescription medications, through its online platform.

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 represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.”

— Brian Schall, Founder, The Schall Law Firm

“its intent to take decisive steps to restrict GLP-1 active pharmaceutical ingredients (APIs) intended for use in non-FDA-approved compounded drugs that are being mass-marketed by companies — including Hims & Hers and other compounding pharmacies — as similar alternatives to FDA-approved drugs.”

— U.S. Food and Drug Administration

What’s next

The Schall Law Firm is encouraging Hims & Hers investors who have suffered losses to contact the firm to discuss their rights and participate in the investigation.

The takeaway

This investigation highlights the regulatory challenges facing telehealth companies like Hims & Hers, as they navigate the complex landscape of healthcare regulations and compliance. The outcome of this probe could have significant implications for the company's future operations and investor confidence.