Kessler Topaz Meltzer & Check, LLP said it is investigating potential federal securities law violations by Hims & Hers Health, Inc. after the Federal Trade Commission sued the company on July 29, 2026. A separate release from Hagens Berman said it has also opened an investigation following the same enforcement action. The complaint, filed in the U.S. District Court for the Northern District of California by the FTC together with the State of Utah and the County of Los Angeles, accuses Hims & Hers of sharing customers' medical information with third-party advertisers including Meta Platforms and Snap despite privacy-focused marketing, and of using recurring subscription practices that allegedly violated the Restore Online Shoppers’ Confidence Act. Hagens Berman said Hims shares fell $4.32, or 14.73%, to close at $25.00 on July 29 as investors reacted to the lawsuit. The firm said its review is focused on whether Hims & Hers maintained adequate internal controls and whether public filings accurately reflected regulatory exposure tied to its alleged tracking-pixel and billing practices.