Soleno Therapeutics(US:SLNO) Businesswire·2026-03-12 17:53Core Viewpoint - A securities fraud class action lawsuit has been filed against Soleno Therapeutics, Inc. on behalf of investors who acquired its common stock during the specified class period, alleging misleading statements and failure to disclose material adverse facts about the company's drug DCCR [1][6]. Group 1: Lawsuit Details - The lawsuit claims that Soleno made materially false and misleading statements regarding the safety and efficacy of its drug DCCR, particularly concerning significant safety concerns that were downplayed or concealed during clinical trials [6]. - Investors have until May 5, 2026, to file a lead plaintiff motion in this class action lawsuit [1][7]. Group 2: 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 per share, or 11.98%, closing at $68.09 on August 18, 2025 [2][3]. - After a patient death linked to DCCR was disclosed on September 10, 2025, the stock price dropped by $13.49 per share, or 19.21%, closing at $56.72 on September 11, 2025 [3]. - On November 4, 2025, after reporting third-quarter results that indicated disruption in DCCR's launch trajectory, the stock price fell by $16.98 per share, or 26.59%, closing at $46.87 on November 5, 2025 [4][5]. Group 3: Allegations Against the Company - The complaint alleges that Soleno failed to disclose that the Phase 3 clinical trial for DCCR had significant safety risks, including issues related to excess fluid retention, which posed greater risks than communicated [6]. - The lawsuit also claims that the commercial viability of DCCR was materially lower than represented, with undisclosed risks related to patient adoption, prescriber reluctance, and potential regulatory actions [6].