Soleno Therapeutics(US:SLNO) Businesswire·2026-03-16 21:08Core Viewpoint - Soleno Therapeutics, Inc. is facing a securities fraud lawsuit due to allegations of misleading statements and undisclosed risks related to its drug DCCR, which has resulted in significant stock price declines and investor losses [1][5]. Group 1: Lawsuit Details - The class action lawsuit is on behalf of investors who purchased Soleno common stock between March 26, 2025, and November 4, 2026, with a deadline to file a lead plaintiff motion by May 5, 2026 [1][7]. - The lawsuit alleges that Soleno made materially false and misleading statements regarding the safety and efficacy of DCCR, particularly concerning serious adverse reactions reported by patients [5][6]. 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 [3]. - After a patient death 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, Soleno reported financial results indicating that the negative report had disrupted DCCR's launch, leading to a further decline of $16.98 per share, or 26.59%, closing at $46.87 on November 5, 2025 [4][5]. Group 3: Allegations Against Soleno - The lawsuit claims that Soleno's Phase 3 clinical trial for DCCR downplayed significant safety concerns, including issues related to excess fluid retention [6]. - It is alleged that the administration of DCCR posed greater safety risks than disclosed, leading to lower commercial viability and increased patient discontinuation rates [6].