ATLANTA, Aug. 05, 2026 (GLOBE NEWSWIRE) — A shareholder class action lawsuit has been filed against iTonic Holdings Ltd. (“iTonic” or “PTHL”) f/k/a Pheton Holdings Ltd. (NASDAQ: PTHL, ITOC). The lawsuit alleges that Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) PTHL was the subject of a market manipulation and fraudulent promotion scheme involving social-media based misinformation and impersonators posing as financial professionals; (2) PTHL’s public statements and risk disclosures omitted any mention of intention to use fraudulent trading or the realized risk of market manipulation used to drive iTonic’s stock price; (3) as a result, PTHL’s securities were at unique risk of extreme price volatility and trading halts triggered by the manipulation scheme; and (4) the Auditor Defendant and Underwriter Defendants had been involved with numerous foreign microcap public offerings that became targets of market manipulation schemes.
If you purchased iTonic shares between September 5, 2024 and July 29, 2025, and experienced a loss on that investment, you are encouraged to discuss your legal rights by contacting Corey D. Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888) 508-6832, or by visiting the firm’s website at www.holzerlaw.com/case/itonic-holdings/ for more information.
The deadline to ask the court to be appointed lead plaintiff in the case is September 29, 2026.
Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021, 2022, 2023, and 2025, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.
CONTACT:
Corey D. Holzer, Esq.
(888) 508-6832 (toll-free)
cholzer@holzerlaw.com
