iTonic Holdings Ltd (f/k/a Pheton Holdings Ltd) Securities Class Action

Class Period

September 5, 2024 - July 29, 2025

Motion Deadline

September 28, 2026|51 days left

Please submit the form below if you believe you have incurred losses.

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Allegations

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.

Lead Plaintiff

If you have qualifying losses, you may be eligible to serve as Lead Plaintiff. Acting as a representative for all class members seeking recovery in the lawsuit, the Lead Plaintiff plays an important role in the litigation, including selecting a law firm to serve as Lead Counsel and approving the final settlement. There is no cost whatsoever to seek or participate as a Lead Plaintiff. The Lead Plaintiff may also receive a monetary award for their participation in the suit.

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