Portnoy Law Firm Announces Class Action on Behalf of Soleno Therapeutics, Inc. Investors

LOS ANGELES, March 19, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Soleno Therapeutics, Inc., (“Soleno” or the “Company”) (NASDAQ: SLNO) investors off a class action on behalf of investors that bought securities between March 6, 2025 and November 4, 2025, inclusive (the “Class Period”). Soleno investors have until May 5, 2026 to file a lead plaintiff motion.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via http://portnoylaw.com/soleno-therapeutics-inc/. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

Soleno’s stock price fell approximately 27% on November 4, 2025, following the release of its third-quarter financial results. This sharp market contraction, which injured investors, was triggered by the Company’s admission that the Scorpion Capital Report had caused a significant “disruption” in the commercial launch of its lead drug, DCCR. Management revealed a decline in patient start forms and a rise in discontinuations within the Prader-Willi syndrome community. This followed a 19% drop in share value over two trading days starting September 10, 2025, after Soleno disclosed in a regulatory filing that a patient had died after being administered DCCR.

The class action lawsuit alleges that Soleno systematically concealed significant safety evidence within its Phase 3 clinical trial program, specifically downplaying risks related to “excess fluid retention.” These undisclosed issues allegedly led to a 12% stock decline in August 2025 following a report by Scorpion Capital titled “Russian Roulette With Prader-Willi Children.” The litigation contends that these safety risks fundamentally undermined DCCR’s commercial viability, leading to predictable challenges with prescriber reluctance and patient adoption. By failing to disclose the “materially greater safety risks” of the drug, the Company is alleged to have misled the market regarding the likelihood of adverse events and the long-term potential of its primary therapeutic asset.

The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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