Soleno Therapeutics(US:SLNO) Businesswire·2026-03-11 16:06Core Viewpoint - A class action lawsuit has been filed against Soleno Therapeutics, Inc. (SLNO) for securities fraud, affecting shareholders who acquired stock between March 26, 2025, and November 4, 2026, with a deadline for lead plaintiff motions set for May 5, 2026 [1] Summary by Relevant Sections Lawsuit Details - The lawsuit alleges that Soleno made materially false and misleading statements and failed to disclose significant safety concerns regarding its drug DCCR, which is used to treat hyperphagia in individuals with Prader-Willi syndrome [1] - The complaint highlights that the Phase 3 clinical trial for DCCR downplayed safety risks, including issues related to excess fluid retention [1] - The lawsuit claims that the drug posed greater safety risks than disclosed, leading to lower commercial viability and increased patient discontinuation rates [1] Stock Price Impact - Following the release of a critical report by Scorpion Capital on August 15, 2025, Soleno's stock price fell by $9.27, or 11.98%, closing at $68.09 on August 18, 2025 [1] - After a patient death was reported on September 10, 2025, the stock price dropped by $13.49, or 19.21%, to close at $56.72 on September 11, 2025 [1] - On November 4, 2025, Soleno's third-quarter financial results indicated that the negative report had disrupted DCCR's launch, causing the stock to decline by $16.98, or 26.59%, to close at $46.87 on November 5, 2025 [1]