NEW YORK, NY - March 9, 2026 (NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Soleno Therapeutics, Inc. (“Soleno” or the “Company”) (NASDAQ: SLNO) on behalf of investors that purchased or otherwise acquired Soleno securities between March 26, 2025 and November 4, 2025 (the “Class Period”).
If you are an investor in Soleno and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing jcampisi@kaplanfox.com or by calling (212) 329-8571.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than May 5, 2026 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
According to the complaint, “on August 15, 2025, Scorpion Capital LLC (‘Scorpion Capital’) published a sharply critical report regarding Soleno, DCCR, and the Company’s Phase 3 clinical trial program, titled “Russian Roulette With Prader-Willi Children: How The Latest Rare Disease Price-Gouging Scheme Fleeced the FDA, Parents, And Its Own Study Investigators With A Worthless, Toxic Drug; Suspect Data; And Sham Clinical Trials To Push A $500K/Year Knockoff Of A 50-Year- Old Generic Compound – Triggering One Of The Worst Launch Failures And Safety Catastrophes In Post-Approval History” (the ‘Scorpion Capital Report’).” The complaint further states that the “Scorpion Capital Report presented an extensively researched and exhaustively detailed exposé on problems with Soleno’s clinical trial conduct, safety and efficacy concerns with DCCR, and patient reports of serious adverse reactions related to the drug following its commercial launch. The report detailed interviews with multiple investigators reportedly involved in conducting the Phase 3 trial, Soleno employees, medical professionals, and key opinion leaders (‘KOLs’), presented numerous examples of parents documenting severe harm to their children after administering DCCR, and analyzed the safety and efficacy of DCCR as represented in Soleno’s published clinical trials and as compared to available generics.”
“On this news, the price of Soleno common stock declined from a high of more than $77 per share on August 14, 2025 to close at approximately $68 per share on August 18, 2025, a decline of nearly 12% over two trading days on above-average trading volume. However, the price of Soleno common stock remained artificially inflated as the full truth regarding safety data and risks associated with DCCR was not disclosed to investors and defendants continued to make materially false and misleading statements.”
“Then, on November 4, 2025, Soleno reported its financial results for its third fiscal quarter ended September 30, 2025.” The complaint states that the Chief Executive Officer “revealed that the Scorpion Capital Report had caused a ‘disruption’ in DCCR’s launch trajectory and concerns within the PWS community, with a lower number of patient start forms and increased discontinuations beginning after the report’s publication.” “Also on November 4, 2025, Scorpion Capital reposted a mother’s social media post reporting that her son had suffered congestive heart failure after taking DCCR[.]”
“On this news, the price of Soleno common stock declined from nearly $64 per share on November 4, 2025 to close at approximately $47 per share on November 5, 2025, a one-day decline of approximately 27% on above-average trading volume.”
The complaint alleges “(a) that the Soleno Phase 3 clinical trial program for DCCR had systematically downplayed, misrepresented, and/or concealed significant evidence of safety concerns potentially related to the administration of DCCR, including issues related to excess fluid retention in clinical trial participants; (b) that, as a result of (a) above, the administration of DCCR to treat hyperphagia in individuals with PWS posed materially greater safety risks than disclosed by the Company or its executives; and (c) that, as a result of (a)-(b) above, DCCR had materially lower commercial viability and undisclosed risks related to the likelihood of significant and widespread adverse events after its commercial launch, including risks related to patient discontinuation rates, lower patient adoption, prescriber reluctance, adverse regulatory action, and potential reputational and legal fallout.”
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CONTACT:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(212) 329-8571
jcampisi@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
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Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
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https://www.kaplanfox.com/case/soleno-therapeutics-shareholder-alert-learn-more-now/
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