Bronstein, Gewirtz & Grossman LLC Urges iTonic Holdings Ltd. f/k/a Pheton Holdings Ltd. Investors to Act: Class Action Filed Alleging Investor Harm
Nationally Recognized Firm Urges iTonic Investors to Explore Class Action Representation
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NEW YORK, Aug. 04, 2026 (GLOBE NEWSWIRE) — Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against iTonic Holdings Ltd. f/k/a Pheton Holdings Ltd. (NASDAQ: ITOC; previously PTHL) and certain of its officers.
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired iTonic Class A ordinary shares between September 5, 2024 and July 29, 2025, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/ITOC.
iTonic Case Details
| The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: | |
| (1) | PTHL was the subject of an alleged market manipulation and fraudulent promotion scheme involving social media-based misinformation and individuals impersonating financial professionals; |
| (2) | the Company’s public statements and risk disclosures failed to disclose the alleged manipulation of its stock or the risk that its securities were being artificially inflated through fraudulent trading activity; |
| (3) | as a result, PTHL’s securities were subject to an increased risk of extreme price volatility and trading halts; |
| (4) | the Company’s auditor and underwriters had previously participated in numerous foreign microcap public offerings that allegedly became targets of market manipulation schemes; and |
| (5) | as a result, Defendants’ positive statements regarding the Company’s business, operations, and prospects were materially false and misleading and lacked a reasonable basis. |
What’s Next for iTonic Investors?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/ITOC. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in iTonic you have until September 29, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff.
No Cost to iTonic Investors
We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman, LLC for iTonic Securities Class Action?
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com
“Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace,” said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.
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Contact Info
Peretz Bronstein, Esq. or Nathan Miller
Bronstein, Gewirtz & Grossman, LLC
917-590-0911 | info@bgandg.com
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