SAN FRANCISCO, April 9, 2026 /PRNewswire/ -- National shareholder rights law firm Hagens Berman reminds investors in Soleno Therapeutics, Inc. (NASDAQ: SLNO) of the pending securities class action and the upcoming May 5, 2026 lead plaintiff deadline. The firm urges investors who purchased Soleno common stock between March 26, 2025, and November 4, 2025 (the "Class Period"), and suffered significant losses to submit your losses now.
Case Name: City of Pontiac Police &Fire Ret. Sys. v. Soleno Therapeutics, Inc., et al.
Case No.: 26-cv-01979 (N.D. Cal.)
Contact: Reed Kathrein | 844-916-0895 | Submit SLNO Losses Here
The Allegations: Concealed Safety Risks and "Hocus-Pocus" Metrics:
The Soleno class action focuses on the company's repeated assurances regarding the safety, efficacy, and commercial launch of its flagship product, VYKAT™ XR (DCCR), for the treatment of Prader-Willi syndrome (PWS).
The complaint alleges that throughout the Class Period, Soleno misrepresented the commercial viability of DCCR by failing to disclose:
- Systemic Safety Omissions: The company allegedly downplayed significant evidence of safety concerns, including excess fluid retention and potential heart failure in children using the drug.
- Integrity Red Flags: A report by activist short seller Scorpion Capital highlighted that Soleno's Phase 3 clinical trials were purportedly reliant on a controversial physician in Gainesville, Florida, whose data exhibited irregularities consistent with data integrity failures.
- Inflated Launch Metrics: While Soleno claimed the DCCR launch "definitely exceeded our expectations," the complaint alleges that the "start forms" were artificially fueled by an "invisible hand" rather than genuine market demand.
The Alleged Corrective Disclosures and Stock Declines
On August 15, 2025, activist short seller Scorpion Capital published a report titled "Russian Roulette With Prader-Willi Children," detailing widespread adverse patient reactions and investigator skepticism. This report triggered an immediate double-digit decline in the stock price.
The truth allegedly fully materialized on November 4, 2025, when Soleno reported Q3 2025 financial results. Management admitted to a disruption in DCCR's launch trajectory, specifically acknowledging a lower number of patient start forms and increased discontinuations. On this news, SLNO stock plummeted 27% in a single day.
"Our investigation centers on the complaint's claims that Soleno allegedly bypassed critical safety protocols and used questionable metrics to maintain an inflated stock price," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation of the alleged claims.
Critical Deadline: May 5, 2026
If you purchased Soleno stock during the Class Period and suffered a significant loss, you have until May 5, 2026, to petition the Court to serve as lead plaintiff.
If you invested in Soleno and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now »
If you'd like more information and answers to frequently asked questions about the Soleno case and the firm's investigation, read more »
Whistleblowers: Persons with non-public information regarding Soleno should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email SLNO@hbsslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
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SOURCE Hagens Berman Sobol Shapiro LLP
