Soleno Therapeutics Investors Seek Lead Plaintiff Role in Class Action Lawsuit

Robbins Geller Rudman & Dowd LLP announces opportunity for investors with substantial losses to lead case against Soleno Therapeutics

Published on Mar. 9, 2026

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The law firm of Robbins Geller Rudman & Dowd LLP has announced that purchasers of Soleno Therapeutics, Inc. (NASDAQ: SLNO) common stock between March 26, 2025 and November 4, 2025 have until May 5, 2026 to seek appointment as lead plaintiff in a class action lawsuit against the company. The lawsuit alleges that Soleno and its executives failed to disclose significant safety concerns related to the company's lead drug candidate, DCCR, for the treatment of Prader-Willi syndrome.

Why it matters

The Soleno class action lawsuit alleges that the company downplayed and misrepresented evidence of safety issues with DCCR, which could impact the drug's commercial viability and lead to significant adverse events after its launch. This case highlights the importance of transparency and accurate disclosure by pharmaceutical companies, especially those developing treatments for rare diseases.

The details

The lawsuit, captioned City of Pontiac Police and Fire Retirement System v. Soleno Therapeutics, Inc., No. 26-cv-01979 (N.D. Cal.), alleges that Soleno and certain of its top executives violated the Securities Exchange Act of 1934 by failing to disclose that the company's 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. As a result, the lawsuit claims that the administration of DCCR posed materially greater safety risks than disclosed by Soleno.

  • On August 15, 2025, Scorpion Capital LLC published a critical report regarding Soleno, DCCR, and Soleno's Phase 3 clinical trial program.
  • On September 10, 2025, Soleno filed a current event report on Form 8-K disclosing that a patient had died after taking DCCR.
  • On November 4, 2025, Soleno reported its financial results for the third quarter of 2025, revealing that the Scorpion Capital report had caused a 'disruption' in DCCR's launch trajectory and concerns within the PWS community.

The players

Soleno Therapeutics, Inc.

A biopharmaceutical company focused on developing novel therapeutics for the treatment of rare diseases, with DCCR as its only commercial product at the time of the lawsuit's filing.

Robbins Geller Rudman & Dowd LLP

A law firm representing investors in securities fraud and shareholder rights litigation, which has announced the opportunity for Soleno Therapeutics investors to lead the class action lawsuit.

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What’s next

The judge in the case will decide on May 5, 2026 whether to allow investors to serve as lead plaintiff in the Soleno Therapeutics class action lawsuit.

The takeaway

This case highlights the importance of transparency and accurate disclosure by pharmaceutical companies, especially those developing treatments for rare diseases. Investors with substantial losses in Soleno Therapeutics stock have an opportunity to lead the class action lawsuit and hold the company accountable for any alleged failures to disclose material information about the safety of its lead drug candidate.