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Hagens Berman Alerts Investors of Soleno Securities Class Action

San Francisco, April 17, 2026 – The well-known shareholder rights law firm, Hagens Berman, has issued an important notice to investors in Soleno Therapeutics, Inc. (NASDAQ: SLNO) regarding a pending securities fraud class action lawsuit. Investors are being reminded of the approaching lead plaintiff deadline set for May 5, 2026. This notice is particularly crucial for those who acquired Soleno's common stock between March 26, 2025, and November 4, 2025, and have experienced significant losses during this timeframe.

Overview of the Class Action

The pending class action, recognized as City of Pontiac Police Fire Retirement System v. Soleno Therapeutics, Inc., et al., is scheduled under Case No. 26-cv-01979 in the Northern District of California. Investors are advised to take immediate action if they meet the criteria of having purchased stock during the specified class period and having encountered losses.

Allegations Against Soleno Therapeutics

The allegations in the class action primarily focus on Soleno's purported misrepresentations regarding the safety, efficacy, and commercial viability of its flagship product, VYKAT™ XR (DCCR), designed for treating Prader-Willi syndrome (PWS). Key points of the complaint highlight several critical concerns:
1. Concealment of Safety Risks: Evidence suggests that Soleno may have downplayed significant safety risks, including excessive fluid retention and potential heart failure in children using the drug.
2. Data Integrity Issues: Investigations revealed potential data integrity failures during clinical trials conducted by a controversial physician, raising questions about the validity of trial results.
3. Inflated Market Metrics: Contrary to their public statements about the successful launch of DCCR exceeding expectations, the lawsuit claims that the strong metrics were artificially inflated by manipulative practices rather than genuine market demand.

The Impact of Allegations on Soleno's Stock Price

On August 15, 2025, a report released by activist short seller Scorpion Capital stirred significant controversy, detailing adverse reactions among patients and creating skepticism about Soleno's claims. This led to a notable immediate drop in the company's stock price.

By November 4, 2025, when Soleno announced its Q3 financial results, the company acknowledged disruption in DCCR's launch trajectory, including decreased patient start forms and higher discontinuation rates. Subsequently, SLNO stock plummeted nearly 27% in a single day, underscoring the seriousness of the allegations and their repercussions on investor sentiment.

Reed Kathrein, a partner at Hagens Berman overseeing the investigation, noted that the claims present a critical examination of Soleno's adherence to safety protocols and the questionable metrics utilized to support its stock price.

Upcoming Deadline for Investors

The critical deadline of May 5, 2026, looms for investors considering filing a petition to serve as lead plaintiff in this class action. Individuals who believe they have incurred substantial losses or possess information relevant to the ongoing investigation are strongly encouraged to submit their details without delay. Hagens Berman is dedicated to providing updates and assistance regarding questions related to the case.

Whistleblower Information

Additionally, individuals with non-public information pertaining to Soleno Therapeutics may consider options to assist in the investigation under the SEC Whistleblower Program. Whistleblowers can potentially earn rewards based on the successful recovery by the SEC, highlighting the importance of transparency in corporate practices.

For more information on the case, to submit losses, or to learn more about the whistleblower program, contact Reed Kathrein at 844-916-0895.

About Hagens Berman

Hagens Berman Sobol Shapiro LLP is a global law firm focusing on enabling individuals wronged by corporate misconduct to seek justice. With a successful track record exceeding $2.9 billion secured for clients, Hagens Berman stands as a pillar in advocating for shareholders, whistleblowers, and consumers facing corporate negligence. Visit their website for continuous updates and news.

Stay informed and act accordingly in light of this investigation to safeguard your investments in Soleno Therapeutics.