July 15 (Reuters) - Telehealth company Hims & Hers

is facing a growing number of U.S. investor lawsuits

after Novo Nordisk's decision last month to end a

short-lived partnership to sell its Wegovy weight-loss drug

through the platform sent shares plunging.

A group of shareholders sued Hims on Monday in federal court

in San Francisco, accusing its board and senior executives of

making false and misleading statements about its financial

condition and operations. The case was filed as a so-called

derivative lawsuit on behalf of the company.

The lawsuit follows two securities class actions filed by

Hims investors in the same court last month, seeking damages

over the drop in stock price after Novo in late June ended what

the companies had initially described as a long-term

collaboration designed to make obesity care and treatment more

affordable and accessible.

Hims, Novo and the lawyers who filed Monday's lawsuit did

not immediately respond to requests for comment. Danish

drugmaker Novo is not a defendant in the lawsuits.

Founded in 2017, San Francisco-based Hims provides health

and wellness products focused on weight loss, sexual and mental

health and hair loss.

Novo on June 23 said it was ending their partnership that

began in late April, citing Hims' alleged improper marketing and

sales of Wegovy copies. Novo accused Hims of "deceptive

promotion and selling of illegitimate, knockoff versions of

Wegovy that put patient safety at risk."

Hims CEO Andrew Dudum responded in a post on X that day that

accused Novo management of misleading the public and making

anticompetitive demands "that infringe on the independent

decision making of providers and limit patient choice."

Hims shares fell $22.24, or over 34%, after Novo's

announcement, declining from $64.22 per share on June 20 to

close at $41.98 per share on June 23. The stock closed on Monday

at $52.03 a share.

The tight supply of Wegovy in the United States had allowed

Hims and others to sell cheaper, compounded versions of the

drug, known chemically as semaglutide.

The U.S. Food and Drug Administration in February removed

Wegovy from the agency's shortage list. Hims said the decision

meant it could not guarantee continued sales of compounded

semaglutide.

The case is Steve Jones v. Andrew Dudum, U.S. District

Court, Northern District of California, No. 3:25-cv-05866-AGT.

For plaintiff: Shane Rowley of Rowley Law PLLC, and Francis

"Casey" Flynn Jr. of Law Office of Francis J. Flynn Jr

For defendants: No appearances yet

Read more:

Novo, Hims & Hers engage in war of words after Wegovy deal

falls apart

US judge upholds FDA's removal of Ozempic, Wegovy from drug

shortage list

Novo Nordisk to sell Wegovy through telehealth firms to

cash-paying US customers