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Investors Alert: Lead Plaintiff Deadline for Soleno Therapeutics

On May 5, 2026, Hagens Berman, a prominent law firm advocating for shareholder rights, issued a reminder for investors in Soleno Therapeutics, Inc. (NASDAQ: SLNO) regarding an important deadline concerning a securities class action lawsuit. The firm encourages shareholders who acquired Soleno stock between March 26, 2025, and November 4, 2025, and incurred significant financial losses during this period to take action and petition the court to be considered as lead plaintiffs by this critical date.

Key Details of the Class Action

The lawsuit revolves around allegations that Soleno Therapeutics misled investors concerning the safety and effectiveness of its leading product, VYKAT™ XR (DCCR), designed for treating Prader-Willi syndrome (PWS). Reports outline that throughout the class period, Soleno allegedly concealed crucial safety concerns related to their product. This included failures to acknowledge evidence indicating risks such as excessive fluid retention and possible heart complications in children relying on the medication.

Furthermore, an activist short seller, Scorpion Capital, raised integrity issues regarding Soleno’s Phase 3 clinical trial data, labeling potential discrepancies that could invalidate the trial's results. These allegations have raised red flags about the company's commitment to transparency and safety, critical issues for stockholders concerned about the company's future.

Stock Impact

The fallout for Soleno came sharply on August 15, 2025, following the release of Scorpion Capital's critical report titled, "Russian Roulette With Prader-Willi Children." This disclosure led to a rapid decline in stock prices, indicating a loss of confidence among investors. On November 4, 2025, Soleno further exacerbated the situation by disclosing a disappointing financial outlook for Q3 2025, acknowledging disruptions in DCCR's market launch. Consequently, the stock price plummeted 27% in one day, prompting urgent actions from investors who suffered financially.

Reed Kathrein, the partner in charge of this class action at Hagens Berman, emphasizes that their inquiry focuses on the claims of the complaint that accuse Soleno of neglecting essential safety protocols and employing misleading metrics to maintain an unrealistically inflated stock price.

Call to Action for Investors

Investors are urged to act without delay. If you purchased shares of Soleno Therapeutics during the class period and faced considerable losses, you have until May 5, 2026, to submit your details to the court to seek lead plaintiff status in this class action. Hagens Berman is also interested in collecting information from those who may have significant knowledge relevant to the case or who can share non-public facts about the company’s practices.

Additionally, whistleblowers possessing pertinent insights are encouraged to leverage the SEC Whistleblower program, offering the potential for rewards based on successful recoveries linked to new information provided.

For more information on your rights as an investor and guidance on how to proceed, you can contact Reed Kathrein at 844-916-0895.

About Hagens Berman

Hagens Berman is nationally recognized for its efforts in complex litigation focused on corporate accountability. The firm is dedicated not only to protecting investors but also to representing consumers and employees who have faced corporate negligence. With over $2.9 billion in recoveries, the firm remains a strong ally for those seeking justice against corporate wrongdoing. To learn more about their practice or receive updates, follow them on Twitter at @ClassActionLaw.