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Investor Alert on Soleno Therapeutics

San Francisco-based law firm Hagens Berman has issued an important reminder for investors in Soleno Therapeutics, Inc. (NASDAQ: SLNO) regarding a pending securities class action. Investors who suffered substantial losses between March 26, 2025, and November 4, 2025, during this specified Class Period are encouraged to come forward. The deadline for interested parties to act as lead plaintiff is fast approaching on May 5, 2026.

Overview of the Class Action

The legal action stems from allegations surrounding the company's flagship product, VYKAT™ XR, designed for treating Prader-Willi syndrome (PWS). The lawsuit claims that Soleno Therapeutics provided misleading information about the product's safety and effectiveness. Specifically, the company is accused of downplaying safety risks associated with the drug, withholding critical information about serious side effects such as excess fluid retention and potential heart failure in pediatric patients.

Furthermore, concerns were raised regarding the integrity of the clinical trials used to substantiate the drug’s commercial viability. A report by activist short seller Scorpion Capital suggested that the studies relied on a physician whose data may be compromised, raising red flags about the appropriateness of the data.

In addition, accusations include inflating launch metrics for DCCR, suggesting that early reports of strong market demand were artificially manufactured rather than stemming from authentic consumer interest.

Key Events Triggering Stock Decline

Investors first became alarmed on August 15, 2025, following the release of Scorpion Capital’s report entitled "Russian Roulette With Prader-Willi Children." This investigation, which highlighted numerous adverse patient reactions to DCCR, resulted in significant stock price drops. The stock faced further turmoil when Soleno released its Q3 2025 financial results on November 4, 2025, admitting to a disrupted launch of DCCR, which included a decrease in patient start forms and an unsettling increase in treatment discontinuations. Following this acknowledgment, SLNO shares plummeted by 27%, marking a significant loss for investors.

Legal Path Forward

Reed Kathrein, the Hagens Berman partner overseeing the case, emphasized that the focus of their investigation is on allegations that Soleno violated essential safety protocols and employed questionable data metrics to maintain its stock price. Investors affected by these developments are urged to submit their loss reports to join the class action and potentially recover their investments before the May 5 deadline.

In addition to traditional investor relief avenues, whistleblower protections have also been established. Individuals with insider information related to Soleno can explore options for reporting misconduct, potentially benefitting from the SEC Whistleblower program, which allows rewards of up to 30% of any financial recovery.

About Hagens Berman

Hagens Berman Sobol Shapiro LLP is a prominent law firm dedicated to enforcing corporate accountability. The firm has successfully secured over $2.9 billion for investors and others affected by corporate misconduct, highlighting its commitment to protecting the rights and interests of individuals in complex litigation scenarios.

For more information or to submit claims, reach out to Reed Kathrein at 844-916-0895.

Note: Investors seeking more insight or an FAQ about the Soleno case can also refer to Hagens Berman’s dedicated updates.