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Law firms probe Hims & Hers after FTC suit sends stock down over 14%

Law firms probe Hims & Hers after FTC suit sends stock down over 14%

Lowey Dannenberg joined earlier investor alerts after a July 29, 2026 FTC lawsuit, backed by Utah and California, accused Hims & Hers of unauthorized subscriptions and sharing sensitive health data with Meta and Snap.

Fact Check
The FTC's own press release directly confirms the core facts: a July 29, 2026 lawsuit against Hims & Hers, joined by Utah and California, alleging charging before provider consultation (i.e., unauthorized subscriptions), obstructed cancellations, and sharing sensitive health data with Meta and Snap. The 'over 14%' stock drop and the law firm investigations (including Lowey Dannenberg) are confirmed by the Kessler Topaz alert, the Lowey Dannenberg GlobeNewswire release, and Fierce Healthcare. One minor discrepancy: the Lowey release cites a ~10.40% intraday drop versus the widely reported 'over 14%' figure, likely reflecting different measurement points (intraday vs. daily close), but this does not undermine the overall claim.
Summary

Lowey Dannenberg has joined other investor law firms investigating possible federal securities laws violations at Hims & Hers Health, Inc. after a July 29, 2026 complaint by the Federal Trade Commission, joined by Utah and California, accused the company of deceptive subscription and privacy practices. The complaint alleges Hims & Hers charged consumers for prescriptions before a provider determined treatment was appropriate, enrolled users in recurring subscriptions without consent, made cancellations difficult, and shared sensitive health information with Meta and Snap despite privacy assurances. Earlier investor alerts tied the case to a 14.73% one-day stock decline to $25.00, while Lowey Dannenberg said the shares fell $3.05, or about 10.40%, during intraday trading the same day.

Terms & Concepts
  • Federal Trade Commission: A U.S. agency that enforces consumer-protection and competition laws.
  • recurring subscriptions: Automatically renewing paid plans that continue until a customer cancels.
  • federal securities laws: U.S. rules governing company disclosures, securities trading, and investor protections.