Kahn Swick & Foti, LLC Announces Class Action Securities Lawsuit Against Soleno Therapeutics, Inc. (NasdaqCM: SLNO) Over Alleged Fraud During March 26, 2025 to November 4, 2025 Class Period

Kahn Swick & Foti, LLC (KSF) and KSF partner, former Attorney General of Louisiana Charles C. Foti, Jr., announced that they are notifying investors in Soleno Therapeutics, Inc. (Soleno or the Company) (NasdaqCM: SLNO) of a class action securities lawsuit.

Allegations and class period

The lawsuit seeks to recover losses on behalf of investors of Soleno Therapeutics who were allegedly adversely affected by securities fraud between March 26, 2025 and November 4, 2025.

According to the complaint, Soleno and certain of its executives are charged with failing to disclose material information during the class period, in alleged violation of federal securities laws.

What the complaint says was misrepresented

The alleged false and misleading statements and/or omissions include, among other things, the following:

• The Phase 3 clinical trial program for DCCR, the Company’s only commercial product for the treatment of hyperphagia in individuals with Prader-Willi syndrome (PWS), allegedly “systematically minimized, mischaracterized, and/or failed to disclose” substantial evidence of potential safety concerns. The complaint specifically references indications of excessive fluid retention among clinical trial participants.
• The complaint alleges that, as a result, administering DCCR to treat hyperphagia in individuals with PWS posed materially greater safety risks than disclosed by the Company.
• The complaint alleges that DCCR had materially lower commercial viability than disclosed, along with undisclosed risks related to the likelihood of significant and widespread adverse events after its commercial launch. The complaint references risks including patient discontinuation rates, lower patient adoption, prescriber reluctance, adverse regulatory action, and potential reputational and legal fallout.

Case details

The case is City of Pontiac Police and Fire Retirement System v. Soleno Therapeutics, Inc., No. 26-cv-01979.

Lead plaintiff deadline

Investors who invested in Soleno and suffered a loss during the relevant time frame have until May 5, 2026 to request that the court appoint them as lead plaintiff. The notice states that eligibility to share in any recovery does not require serving as a lead plaintiff.

Contact information

KSF Managing Partner Lewis Kahn can be reached toll-free at 1-877-515-1850 or via email at [email protected]. Additional information is available at https://www.ksfcounsel.com/cases/nasdaqcm-slno/.

About Kahn Swick & Foti, LLC (KSF): KSF is described as a boutique securities litigation law firm with offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg. The notice also states that KSF was ranked by SCAS among the top 10 firms nationally based on total settlement value.