Soleno Therapeutics, Inc. (SLNO) Class Action Lawsuit: Investors Face May 5, 2026, Deadline

Core Viewpoint - A securities fraud class action lawsuit has been filed against Soleno Therapeutics, Inc. for allegedly making materially false and misleading statements regarding its Phase 3 clinical trial for its product DCCR, which is intended for treating hyperphagia in individuals with Prader-Willi syndrome [2][4][5]. Company Overview - Soleno Therapeutics, Inc. is a pharmaceutical company based in Redwood City, California, focused on developing therapies for rare diseases. Its only commercial product is diazoxide choline extended-release tablets (DCCR) [4]. Lawsuit Details - The lawsuit was filed on behalf of investors who purchased Soleno common stock between March 26, 2025, and November 4, 2025. The case is registered in the United States District Court for the Northern District of California [2][7]. - Investors have until May 5, 2026, to file for lead plaintiff status [2][7]. Allegations - The complaint alleges that Soleno's executives misrepresented the safety of DCCR, downplaying significant safety concerns related to fluid retention in clinical trial participants [5]. - It is claimed that the administration of DCCR posed greater safety risks than disclosed, leading to lower commercial viability and potential adverse events post-launch [5]. - The lawsuit highlights that statements made by Soleno regarding its business and operations were materially false and misleading throughout the class period [5]. Stock Performance - Following the release of financial results on November 4, 2025, Soleno's stock price dropped over 26%, attributed to a report by Scorpion Capital that raised concerns about the DCCR launch trajectory and clinical trial issues [6][8]. Investor Actions - Investors are encouraged to contact Kessler Topaz Meltzer & Check, LLP for recovery options at no cost. They can seek to be appointed as lead plaintiff or remain an absent class member [3][9].