The legal action, Velanki v. Hims & Hers Health, Inc., follows an investigation into the company’s conduct between August 4, 2025, and July 29, 2026. On the latter date, the Federal Trade Commission initiated a lawsuit against the telehealth provider, accusing the firm of sharing sensitive patient health data with third-party advertisers. The FTC further alleged that the company misled users regarding its billing and cancellation procedures, specifically noting that charges were often applied before patients had the opportunity to consult with medical providers.

Market reaction to the FTC announcement was swift. On July 29, 2026, Hims & Hers shares dropped $4.32, closing at $25.00—a decline of 14.73% on heavy trading volume. Shareholders seeking to evaluate their legal options or participate in the recovery process can contact Kahn Swick & Foti, LLC, or utilize the ClaimsFiler information portal.