#United States #New York #Pomerantz LLP #iTonic Holdings #Pheton Holdings

Pomerantz Files Class Action Against iTonic Holdings Ltd

Overview of the Lawsuit

On August 6, 2026, Pomerantz LLP announced it has initiated a class action lawsuit targeting iTonic Holdings Ltd, known previously as Pheton Holdings Ltd. This legal challenge arises due to allegations of securities fraud and other unlawful business practices purportedly undertaken by the Company's officers and directors. Investors who experienced losses are encouraged to contact the law firm for participation in the class action.

Details of the Allegations

The lawsuit involves accusations that several individuals connected to iTonic Holdings orchestrated a complex “pump-and-dump” scheme aimed at defrauding unsuspecting investors. This illegal practice allegedly involved promoters who masqueraded as legitimate financial advisors, inflating the Company’s stock price through unfounded claims and fabricated rumors. Notably, one of these allegations suggested an acquisition by the well-known pharmaceutical company, Gilead Sciences, Inc.

The scheme reportedly unraveled dramatically on July 29, 2025, when iTonic’s stock plummeted by approximately 95% in a single day of trading, leading to significant financial losses for many investors.

Key Details for Investors

The lawsuit stipulates that individuals who acquired or purchased iTonic securities during the determined class period must act swiftly. Interested parties have until September 28, 2026, to file a request with the court to be appointed as Lead Plaintiff. This is crucial for voices within the class to be represented during the proceedings.

Potential class members should contact Danielle Peyton, an attorney with Pomerantz, via email at [email protected] or by phone at 646-581-9980, extending the discussion regarding their losses and any associated documentation, including the number of shares purchased.

For more detailed information about joining the lawsuit, individuals can visit Pomerantz’s official website at www.pomerantzlaw.com.

About Pomerantz LLP

Founded by Abraham L. Pomerantz, often referred to as the father of class action law, Pomerantz LLP has forged a path of leadership in the legal field dedicated solely to corporate, securities, and antitrust class litigation. The firm operates globally, with offices in major cities such as New York, London, and Tel Aviv, and continues to advocate fiercely for victims of corporate misconduct and securities fraud. Pomerantz has a notable track record, securing substantial financial recoveries for class members affected by such transgressions.

The firm’s legacy, upheld over its 85-year history, includes not just championing the rights of individual investors but also setting precedents in securities law that shape the landscape of corporate accountability today.

Conclusion

The unfolding class action against iTonic Holdings Ltd (formerly Pheton Holdings Ltd) is a reminder of the vital role investors have in holding corporations accountable for their actions. As timelines approach for filing and becoming involved in the case, it will be crucial for affected investors to engage with legal counsel and stay informed about their rights and the ongoing developments in this matter.