Hims & Hers shares fall after FTC suit and law firm investigation

By Atlas Watchline Staff · Legal · August 19, 2026

Hims & Hers Health shares fell after a PR Newswire release said the FTC filed suit and Hagens Berman opened a securities-law investigation.

Hims & Hers Health shares fell after a PR Newswire release said the FTC filed a federal complaint and Hagens Berman opened an investigation into possible securities-law issues.

According to the release, shares of Hims & Hers Health, Inc. dropped about 14% on Aug. 19, 2026, after news that the Federal Trade Commission sued the company over alleged improper business practices. The item said the stock closed down $4.32, or 14.73%, at $25.00 per share.

The release said Hagens Berman is examining whether Hims & Hers engaged in unlawful business practices and whether those actions violated U.S. securities laws.

The release identified the federal case as FTC et al. v. Hims & Hers Health, Inc., filed July 29, 2026, in the U.S. District Court for the Northern District of California. It said the FTC filed the complaint with the State of Utah and the County of Los Angeles, representing California.

Hagens Berman said it is reviewing whether management maintained adequate internal controls and whether public filings accurately reflected regulatory exposure tied to alleged tracking pixels and billing funnels. Reed Kathrein, the partner leading the investigation, said, “If the FTC's allegations hold true, we are closely examining what implications these systemic practices carry for the historical accuracy of HIMS' financial reporting and disclosures to the public markets.”

The release also said the firm is seeking information from investors with substantial losses and from people with knowledge of the matter. It added that whistleblowers with non-public information about HIMS may be eligible for SEC whistleblower rewards of up to 30 percent of any successful SEC recovery.

The complaint, the law firm’s investigation and any response from Hims & Hers would determine whether the market move extends and whether regulators or investors pursue further action.

Sources

• PR Newswire release

Editorial note: This article was prepared with AI assistance and includes source attribution for reader review.

This is the AMP version of the article. Read the full article on Atlas Watchline.