Portnoy Law Firm Announces Class Action on Behalf of iTonic Holdings, Ltd. Investors
LOS ANGELES, Aug. 10, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises iTonic Holdings, Ltd., (“iTonic” or the "Company") (NASDAQ: ITOC) investors of a class action on behalf of investors that bought securities between September 5, 2024 - July 29, 2025, inclusive (the “Class Period”). iTonic investors have until September 28, 2026 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/itonic-holdings-ltd. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
A Complaint has been filed on behalf of purchasers or acquirers of the Company’s Class A ordinary shares, alleging that certain of the Company’s officers and directors, its auditor (Marcum Asia CPAs LLP), and the underwriters of its initial public offering (Cathay Securities, Inc. and Dominari Securities LLC) orchestrated a “pump-and-dump” scheme to defraud investors in Pheton, in which promoters impersonating legitimate financial advisors touted the Company’s shares with baseless claims, including fabricated rumors of an acquisition by Gilead Sciences, Inc. The scheme collapsed on July 29, 2025, when Pheton’s stock price fell approximately 95% in a single trading session.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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