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Soleno Therapeutics Investors File Securities Fraud Lawsuit
Kirby McInerney LLP files class action lawsuit on behalf of investors who purchased Soleno securities between March 26, 2025 and November 4, 2025.
Mar. 21, 2026 at 1:33am
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A securities fraud class action lawsuit has been filed against Soleno Therapeutics, Inc. (NASDAQ:SLNO) on behalf of investors who purchased the company's securities between March 26, 2025 and November 4, 2025. The lawsuit alleges that Soleno downplayed, misrepresented, and concealed significant evidence of safety concerns related to its lead drug candidate DCCR, which posed greater risks than disclosed by the company.
Why it matters
This lawsuit highlights the importance of transparency and accurate disclosure from pharmaceutical companies, especially regarding the safety and efficacy of their drug candidates. Investors rely on this information to make informed decisions, and any misleading or incomplete information can lead to significant financial losses.
The details
The lawsuit alleges that Soleno's Phase 3 clinical trial program for DCCR, its drug for treating hyperphagia in individuals with Prader-Willi syndrome (PWS), systematically downplayed, misrepresented, and concealed evidence of safety concerns, including issues related to excess fluid retention in clinical trial participants. As a result, the administration of DCCR posed materially greater safety risks than disclosed by Soleno, which could lead to higher patient discontinuation rates, lower adoption, and potential regulatory action.
- On August 15, 2025, Scorpion Capital published a report that described Soleno's DCCR as overpriced and potentially unsafe for children, causing Soleno's stock price to decline by 7.41%.
- On September 10, 2025, Soleno filed an 8-K disclosing that a patient had died after taking DCCR, causing the stock price to decline by 14.53%.
- On November 4, 2025, Soleno revealed during its earnings call that the discontinuation rate of DCCR related to adverse effects was approximately 8%, causing the stock price to decline by 26.59%.
The players
Soleno Therapeutics, Inc.
A biopharmaceutical company focused on the development and commercialization of novel therapeutics for the treatment of rare diseases.
Kirby McInerney LLP
A New York-based plaintiffs' law firm concentrating in securities, antitrust, whistleblower, and consumer litigation.
What they’re saying
“Kirby McInerney LLP reminds investors who purchased Soleno Therapeutics, Inc. ('Soleno' or the 'Company') (NASDAQ:SLNO) securities to contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests in the securities fraud class action lawsuit at no cost.”
— Lauren Molinaro, Kirby McInerney LLP
What’s next
The lead plaintiff deadline for the lawsuit is May 5, 2026. Investors who purchased Soleno securities during the class period are encouraged to contact Kirby McInerney LLP to discuss their rights and interests in the case.
The takeaway
This lawsuit highlights the importance of pharmaceutical companies being transparent and accurate in their disclosures regarding the safety and efficacy of their drug candidates. Investors rely on this information to make informed decisions, and any misleading or incomplete information can lead to significant financial losses.
