SLNO Shareholders - Lead Plaintiff Deadline: May 05, 2026

Soleno Therapeutics, Inc. Class Action Lawsuit – SLNO

Introduction to Soleno Therapeutics, Inc. (SLNO) Securities Class Action Lawsuit

A securities class action lawsuit under the Securities Exchange Act of 1934 has been filed against Soleno Therapeutics, Inc. (NASDAQ: SLNO) and certain of its executives for the period between March 26, 2025 and November 4, 2025. Investors allege that the company and its officers made materially false and misleading statements regarding the safety profile and commercial viability of VYKAT XR (DCCR), the company's only commercial product used to treat hyperphagia in patients with Prader-Willi syndrome.

According to the complaint, while executives touted a favorable safety profile with no new safety signals and strong commercial adoption, the company had allegedly concealed significant safety concerns including risks of excess fluid retention, pre-diabetes, diabetes, pulmonary edema, and congestive heart failure. As these safety issues emerged publicly through an investigative report, a patient death, and management admissions of commercial disruption, Soleno Therapeutics, Inc.'s stock price moved from over $90 per share to lows of less than $45 per share, reflecting a pattern of material stock price declines.

“Most SLNO shareholders never file or join the class action, which means they miss out on potential recovery funds,” said Attorney Joseph Levi.

Soleno Therapeutics, Inc. (SLNO) Securities Lawsuit Case Details

Case Name: City of Pontiac Police and Fire Retirement System v. Soleno Therapeutics, Inc., et al.

Case No.: 3:26-cv-01979

Jurisdiction: U.S. District Court, Northern District of California, San Francisco Division

Filed on: March 6, 2026

Soleno Therapeutics, Inc. (SLNO) Company Profile

Soleno Therapeutics (NASDAQ: SLNO), a rare disease focused biopharmaceutical company, is a pharmaceutical company focused on developing therapies for rare diseases and is headquartered in Redwood City, California. At the time of the complaint filing, the company's only commercial product, reflecting its single-product company dependency, was diazoxide choline extended-release tablets (DCCR), marketed as VYKAT XR, for the treatment of hyperphagia in individuals with Prader-Willi syndrome, including hyperphagia in PWS.

Soleno Therapeutics, Inc. (SLNO) Securities Lawsuit Class Period

March 26, 2025 – November 4, 2025, inclusive.

All persons who purchased Soleno Therapeutics, Inc. common stock during the Class Period may be eligible to join the Soleno Therapeutics, Inc. (SLNO) class action lawsuit, including investors who purchased common stock on the NASDAQ (NASDAQ: SLNO).

Allegations in the Soleno Therapeutics, Inc. (SLNO) Securities Class Action Lawsuit

The complaint targets Soleno Therapeutics, Inc. and three of its executives: Anish Bhatnagar, Chief Executive Officer and Chairman of the Board; James Mackaness, Chief Financial Officer; and Meredith Manning, Chief Commercial Officer, alleging violations of the Securities Exchange Act of 1934. Investors allege that these defendants made materially false and misleading statements about the safety profile and commercial prospects of VYKAT XR throughout the class period and downplayed or concealed material safety concerns and related commercial risks.

On March 26, 2025, as the product received approval, by the Food and Drug Administration, CEO Bhatnagar emphasized on a conference call that the label "reflects VYKAT's favorable safety and tolerability profile, contains no [box] warnings, no contraindications for diabetes, no exclusions for severity of hyperphagia, and no requirement for a risk evaluation and mitigation strategy or REMS program."

Just weeks later on May 7, 2025, Bhatnagar highlighted in a press release that "the high level of interest that we are experiencing, as reflected in both patient start forms and unique prescribers, reflects the significant unmet need that VYKAT XR can address as a first-to-market treatment for this debilitating condition." During the second quarter, Soleno Therapeutics, Inc. reported $32.7 million in revenue from DCCR sales, and by August 6, 2025, Bhatnagar told investors on a conference call that "discontinu

Additional Information

Add Your Transactions

Purchases

+ Additional Purchases

Sales

+ Additional Sales

Alternatively, you may upload your transactions below or e-mail them to [email protected]

Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

  1. I have reviewed a complaint filed in the action.
  2. I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.
  3. I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.
  4. My transaction(s) in Soleno Therapeutics, Inc. which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.
  5. Within the last 3 years,
  6. I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

Are you US Citizen?

Clear

Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against Soleno Therapeutics, Inc. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

Upload Your Stock Tickers

Tell us the stocks you own using SnapTrade, and we will keep you informed about class action litigation related to your stocks.

We monitor critical case developments that may affect the price of your shares and your possible monetary recovery.

SnapTrade only shares the tickers you own and your transaction history — not your account numbers. Using SnapTrade and participating in our monitoring service is free and does not create an attorney-client relationship or obligation on your part.

Don’t miss out on possible monetary recovery — link your brokerage account with SnapTrade.