Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against iTonic Holdings Ltd and Encourages Investors to Contact the Firm
Bragar Eagel & Squire, P.C. Litigation Partner Brandon Walker Encourages Investors Who Suffered Losses In iTonic
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Bragar Eagel & Squire, P.C. Litigation Partner Brandon Walker Encourages Investors Who Suffered Losses In iTonic (ITOC) To Contact Him Directly To Discuss Their Options
If you purchased or acquired PTHL securities between September 5, 2024, and July 29, 2025 and would like to discuss your legal rights, contact Bragar Eagel & Squire partners Brandon Walker or Melissa Fortunato by email at investigations@bespc.com or by telephone at (212) 355-4648.
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NEW YORK, Aug. 25, 2026 (GLOBE NEWSWIRE) —
What’s Happening:
- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against iTonic Holdings Ltd. f/k/a Pheton Holdings Ltd. (“iTonic” or the “Company”) (NASDAQ: ITOC; previously PTHL) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired PTHL securities between September 5, 2024, and July 29, 2025, both dates inclusive (the “Class Period”).
- Investors have until September 28, 2026 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Allegation Details:
- The complaint alleges defendants failed to disclose to investors 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 the Company’s stock price; (3) as a result, the Company’s securities were at unique risk of extreme price volatility and trading halts triggered by the manipulation scheme; (4) the Auditor Defendant and Underwriter Defendants had been involved with numerous foreign microcap public offerings that became targets of market manipulation schemes; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and/or lacked a reasonable basis.
Next Steps:
- If you purchased or otherwise acquired iTonic shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, South Carolina, and California. The firm represents individual and institutional investors in securities, derivative, and commercial litigation as well as individuals in consumer protection and data privacy litigation. The firm has a nationwide practice and routinely handles cases in both federal and state courts. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
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Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
