The suit alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material facts, including that: (1) the communication between Hims and the pharmaceutical company Novo Nordisk A/S (“Novo”) would facilitate a long-term collaboration that would ensure continued access to the weight-loss drug Wegovy for Hims subscribers; (2) Novo approved of Hims’ offerings of compounded semaglutide products under the “personalization” exception; (3) branded Wegovy would be offered alongside compounded semaglutide options on the Hims platform, thereby expanding user choice; and (4) Defendants made positive statements about the Novo partnership and Hims users’ ongoing access to Wegovy alongside compounded semaglutide products. As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s common stock, Plaintiff and other Class Members have suffered significant losses and damages.
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