ITOC, PTHL Deadline Alert: SueWallSt Reminds iTonic Holdings Ltd (f/k/a Pheton Holdings Ltd) (ITOC, PTHL) Investors of Securities Class Action Deadline on September 29, 2026

A securities class action alleges iTonic Holdings Ltd (f/k/a Pheton Holdings Ltd) was the vehicle for a pump-and-dump manipulation scheme built on fabricated Gilead Sciences acquisition rumors, and that the Company's disclosures never warned of the realized manipulation risk before shares collapsed roughly 95% in a single session.

NEW YORK, Aug. 13, 2026 /PRNewswire/ -- SueWallSt notifies investors in iTonic Holdings Ltd, formerly Pheton Holdings Ltd (NASDAQ: ITOC, PTHL), that a class action lawsuit has been filed on behalf of shareholders who purchased securities between September 5, 2024 and July 29, 2025. Find out if you could qualify to recover your losses. You may also contact Joseph E. Levi, Esq. at [email protected] or ☎(888) SueWallSt.

From an initial public offering at $4.00 in September 2024, iTonic's share price climbed to an intraday high of $32.00 on July 28, 2025 before closing at approximately $30.96 per share. The following day, the stock price collapsed nearly 95% to just $1.65 per share. The lead plaintiff deadline is September 29, 2026.

The Alleged Pump-and-Dump Promotion Methodology

According to the lawsuit, the run-up occurred despite the absence of any material corporate developments or legitimate business prospects capable of justifying such a spike. The complaint alleges that promoters posing as legitimate financial advisors touted the shares across online forums, chat groups, and social media, and circulated fabricated rumors that Gilead Sciences, Inc. was preparing to acquire or partner with the Company on August 6, 2025. NASDAQ halted trading multiple times intraday for volatility on July 29, 2025, and the stock closed near $1.65.

On August 1, 2025, the Company issued a press release acknowledging that its share price had been "influenced" by "false rumors" of a Gilead acquisition and stating it had "no contact with Gilead, and any statements or reports suggesting otherwise were and are entirely false and fabricated."

Key Manipulation Allegations for Shareholders

• The lawsuit contends investors were never told the securities were the subject of an active market manipulation and fraudulent promotion campaign.
• Reported revenue was $679,777 in 2022 and $628,591 in 2023
• The IPO raised gross proceeds of $9,000,000 through the sale of 2,250,000 Class A ordinary shares.
• The complaint alleges risk disclosures omitted the specific, realized risk of manipulation driving the price.
• Two material weaknesses in internal control over financial reporting were identified before the offering, according to the lawsuit.

"This case presents important questions about disclosure obligations in the microcap sector, particularly whether investors were told what was actually driving trading in these shares. The complaint alleges the price surge had no connection to the Company's reported operating results." -- Joseph E. Levi, Esq.

Submit your information here or call (888) SueWallSt.

WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

Frequently Asked Questions About the iTonic Lawsuit

Q: What is the iTonic class action lawsuit about? A: A securities class action has been filed against iTonic Holdings Ltd, f/k/a Pheton Holdings Ltd (NASDAQ: ITOC, PTHL), alleging materially false and misleading statements between September 5, 2024 and July 29, 2025. Shares fell approximately 95% after the Company's stock collapsed following multiple NASDAQ volatility halts and its acknowledgment that the price had been influenced by false Gilead acquisition rumors. Investors who purchased shares during the Class Period and suffered losses may be eligible to seek compensation.

Q: Who is eligible to join the iTonic investor lawsuit? A: Investors who purchased iTonic stock or securities between September 5, 2024 and July 29, 2025 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.

Q: How much did iTonic stock drop? A: Shares fell approximately 95%, a decline of roughly $29.31 per share, closing at approximately $1.65 on July 29, 2025. Investors who purchased during the Class Period at allegedly inflated prices and suffered losses may be eligible to seek compensation.

Q: What do iTonic investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Contact SueWallSt, a brand of Levi & Korsinsky LLP, for a no-cost, no-obligation case evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible as an absent class member.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What if I already sold my iTonic shares, can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, they are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

Q: What if I live outside the United States? A: U.S. securities class actions generally cover purchases on U.S. exchanges regardless of the investor's country of residence.

CONTACT:\
Levi & Korsinsky, LLP\
Joseph E. Levi, Esq.\
33 Whitehall Street, 27th Floor\
New York, NY 10004\
[email protected]\
Tel: (888) SueWallSt\
Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

SOURCE SueWallSt.com