Hims & Hers Health and certain executives face a securities class action arising from a July 29, 2026 federal complaint by the FTC (U.S. consumer-protection regulator), the State of Utah and the County of Los Angeles, representing California. The regulators allege that Hims shared sensitive health information with advertising platforms including Meta Platforms and Snap, and charged consumers for prescriptions soon after intake forms were submitted, before consultations with medical providers. The complaint also alleges recurring-subscription enrollment without informed consent and cancellation barriers that violated ROSCA (online subscription consumer-protection law). Hagens Berman is investigating whether Hims misled investors about its data-protection policies, internal controls and the potential financial consequences of the alleged conduct. Hims shares fell $4.32, or 14.7%, on July 29, erasing more than $970 million in market value. Investors with substantial losses are being asked to contact the firm before the Nov. 2, 2026, lead plaintiff deadline; the class period runs from Aug. 4, 2025, through July 29, 2026.