Soleno Therapeutics agreed to be acquired by Neurocrine Biosciences for $53 per share in cash, representing a significant premium over its prior trading levels. The deal terms include potential restrictions on superior competing bids and is expected to close after shareholder and regulatory approvals.

Halper Sadeh LLC has opened an inquiry into potential fiduciary breaches by Soleno’s board, focusing on whether insider arrangements or deal protections unfairly limit shareholder value. The firm is examining transaction provisions that could hinder higher offers.

Soleno shareholders are being invited to seek legal remedies on a contingent-fee basis to pursue additional compensation or disclosures. Investors can engage counsel to assess their rights without upfront costs, potentially challenging the sale terms in court.