Did you buy SLNO common stock between March 26, 2025, and November 4, 2025?

Affected Soleno Therapeutics, Inc. Investor Summary

• Who: Soleno Therapeutics, Inc. (NASDAQ: SLNO)
• What: Securities fraud class action lawsuit filed
• Class Period: March 26, 2025, through November 4, 2025
• Deadline to Seek Lead Plaintiff Status: May 5, 2026
• Key Lawsuit Allegations: Material misstatements and/or omissions concerning the company’s Phase 3 clinical trial program for diazoxide choline extended-release tablets (“DCCR”).
• Investor Action: Contact Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) for recovery options at no cost to investor

Kessler Topaz Meltzer & Check, LLP (www.ktmc.com), a nationally recognized securities litigation law firm, informs investors that a securities fraud class action lawsuit has been filed against Soleno Therapeutics, Inc. (Soleno) (NASDAQ: SLNO) on behalf of those who purchased or acquired Soleno common stock between March 26, 2025, and November 4, 2025, inclusive. The lawsuit is filed in the United States District Court for the Northern District of California and is captioned City of Pontiac Police and Fire Retirement System v. Soleno Therapeutics, Inc., et al, Case No. 3:26-cv-01979 (N.D. Cal.). Investors have until May 5, 2026, to file for lead plaintiff status.

CONTACT KTMC TO DISCUSS YOUR LEGAL RIGHTS:
If you purchased or acquired Soleno common stock and have lost money on your investment, you are encouraged to contact KTMC attorney Jonathan Naji, Esq. at:

(484) 270-1453
info@ktmc.com
https://www.ktmc.com/slno-soleno-therapeutics-inc-class-action-lawsuit?utm_source=Businesswire&utm_medium=pressrelease&utm_campaign=slno&mktm=PR

There is no cost or obligation to speak with an attorney.

SOLENO THERAPEUTICS, INC. CLASS ACTION LAWSUIT - COMPLAINT ALLEGATION SUMMARY:
Soleno is a pharmaceutical company focused on developing therapies for rare diseases and is headquartered in Redwood City, California. At the time of the filing of the complaint, Soleno’s only commercial product was diazoxide choline extended-release tablets (DCCR) for the treatment of hyperphagia in individuals afflicted with Prader-Willi syndrome (PWS).

The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about Soleno’s business and operations. Specifically, Defendants misrepresented and/or failed to disclose that: (1) the Soleno 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; (2) as a result, the administration of DCCR to treat hyperphagia in individuals with PWS posed materially greater safety risks than disclosed by Soleno or its executives; (3) consequently, DCCR had materially lower commercial viability and undisclosed risks related to the likelihood of significant and widespread adverse events after its commercial launch, including risks related to patient discontinuation rates, lower patient adoption, prescriber reluctance, adverse regulatory action, and potential reputational and legal fallout; and (4) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading at all relevant times.

Why did Soleno’s Stock Drop?
On November 4, 2025, Soleno reported its financial results for its third fiscal quarter ended September 30, 2025. The company also revealed that a report issued by Scorpion Capital, LLC on August 15, 2025, had purportedly caused a “disruption” in DCCR’s launch trajectory and concerns within the PWS community, with a lower number of patient start forms and increased discontinuations beginning after the report’s publication. The Scorpion Report had, among other things, revealed significant issues with Soleno’s Phase 3 clinical trial program for DCCR for the treatment of hyperphagia in individuals afflicted with PWS. On this news, the price of Soleno stock declined over 26%.

WHAT SLNO INVESTORS CAN DO NOW:

1. File to be lead plaintiff by May 5, 2026.
2. Contact KTMC for a free case evaluation. All representation is on a contingency fee basis, there is no cost to you.
3. Retain counsel of choice or take no action.

THE LEAD PLAINTIFF PROCESS FOR SOLENO THERAPEUTICS, INC. INVESTORS:
Soleno investors may, no later than May 5, 2026, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Kessler Topaz Meltzer & Check, LLP encourages Soleno investors to contact the firm for more information.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP (KTMC):
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com. The complaint in this matter was not filed by KTMC.

May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.

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