Securities class action filed against Hims & Hers over privacy and billing disclosures

A securities fraud class action has been filed against Hims & Hers Health, Inc., accusing the telehealth company of misleading investors about how it handles customer health information and about when it charges customers for prescriptions ^[2]. The case is captioned Velanki v. Hims & Hers Health, Inc., No. 26-cv-09313, in the U.S. District Court for the Northern District of California ^[2].

The class period runs from August 4, 2025 through July 29, 2026, and investors who bought or acquired HIMS securities in that window have until November 2, 2026 to ask the court to be appointed lead plaintiff ^[2]. The complaint was filed by Glancy Prongay Wolke & Rotter LLP ^[1]. Kessler Topaz Meltzer & Check LLP, which issued an investor deadline notice about the same case, said the complaint was not filed by that firm ^[2].

According to the complaint summary in the investor notices, the company failed to disclose that it shared consumers' health information with third-party advertising platforms, and that it charges consumers for prescriptions almost immediately after they submit an intake form, even though it told consumers they would be able to consult with a medical provider to find a treatment that is "right for them" ^[2]. The notices also say the complaint alleges this conduct exposed the company to regulatory scrutiny, made fees and penalties reasonably likely, and made positive statements about the business materially misleading or without a reasonable basis ^[2].

The investor case followed a Federal Trade Commission lawsuit filed against Hims & Hers on July 29, 2026 ^[2]. That action accused the company of sharing customers' medical information with third-party advertisers and described "deceptive and unlawful privacy practices," including sharing sensitive details about a patient's health with Snap and with Facebook parent Meta Platforms ^[2]. On that news, HIMS stock declined $4.32 per share, or 14.73 percent, to close at $25.00 on July 29, 2026 ^[2].

Which treatments or products are involved in either case has not been reported in these notices ^[1][2]. The company's response to the allegations has not been disclosed in them, and no court has ruled on the claims ^[1][2].

Why it matters for patients

The allegations are claims in a lawsuit, not findings of fact. Still, the details describe practices that matter to anyone who fills out a medical intake form online. The complaint says the company shared consumer health information with advertising platforms, including sensitive details about a patient's health sent to Snap and Meta ^[2]. People often assume that information given to a telehealth provider stays between them and a clinician.

The billing allegation is also specific: that customers were charged for prescriptions almost immediately after submitting an intake form, despite messaging that they would consult a medical provider first ^[2]. Anyone reviewing charges from a telehealth service can check when a payment was taken relative to any provider consultation.

The securities case is brought on behalf of investors, and the notices describe recovery for investment losses as the goal ^[1][2]. They do not describe any separate compensation for patients whose information or payments are at issue, and no consumer remedy has been announced ^[1][2]. The FTC action is a separate matter from the investor lawsuit, and what penalties, if any, the agency is seeking has not been disclosed in these notices ^[2].

What happens next

November 2, 2026 is the deadline for investors in the class period to seek lead plaintiff status ^[2]. A lead plaintiff is a representative who directs the litigation on behalf of the class; the notices state that an investor's ability to share in any recovery is not affected by the choice to serve as lead plaintiff or to do nothing and remain an absent class member ^[2].

No other dates have been reported, including when the court might rule on any motion in the securities case or how the FTC matter will proceed ^[1][2]. Whether either case changes how telehealth companies handle intake data or billing has not been established.