Saxena White P.A. is pleased to announce that on June 25, 2026, the United States District Court for the Northern District of California appointed Oklahoma Firefighters Pension and Retirement System as Lead Plaintiff and Saxena White P.A. as Lead Counsel in the securities class action against Soleno Therapeutics, Inc. (“Soleno”) and certain of its officers and executives (collectively, “Defendants”).

The action alleges that Defendants misled investors about the safety and effectiveness of Soleno’s only commercial product, diazoxide choline extended-release tablets (“DCCR”), a potential treatment for Prader-Willi syndrome (“PWS”) and hyperphagia. For example, Defendants touted how DCCR had a “well-established safety profile with over four years of data” and that the label for DCCR reflected its “favorable safety and tolerability profile.” However, the action alleges that Defendants failed to disclose that: (1) the Phase 3 clinical trial program for DCCR had systematically downplayed, misrepresented, and/or concealed significant evidence of safety concerns; (2) the administration of DCCR to treat hyperphagia in individuals with PWS posed materially greater safety risks than disclosed by Soleno; and (3) DCCR had materially lower commercial viability and undisclosed risks related to the likelihood of significant and widespread adverse events after its commercial launch. These misrepresentations and omissions caused investors to purchase Soleno common stock at artificially inflated prices, resulting in losses when the truth emerged.