ITOC, PTHL DEADLINE: Levi & Korsinsky Reminds iTonic Holdings Ltd (f/k/a Pheton Holdings Ltd) Investors of Upcoming Securities Class Action Deadline

Institutional holders of iTonic Holdings Ltd (f/k/a Pheton Holdings Ltd) shares are urged to review fiduciary recovery options after the stock collapsed approximately 95% in one session, amid allegations the Company failed to warn of a foreseeable microcap manipulation risk.

NEW YORK, Aug. 10, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies institutional investors in iTonic Holdings Ltd (f/k/a Pheton Holdings Ltd) (NASDAQ: ITOC, PTHL) that a securities class action has been filed on behalf of shareholders who purchased securities between September 5, 2024 and July 29, 2025. Request an institutional investor loss assessment. You may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.

iTonic shares fell approximately 95%, a decline of roughly $29.31 per share from the previous day’s closing price, settling at approximately $1.65 on July 29, 2025. To be considered for lead plaintiff, investors must file by September 29, 2026.

Notice to Institutional Holders

Pension funds, asset managers, family offices, and other fiduciaries that accumulated iTonic positions during the Class Period may have absorbed concentrated losses across a single small-float position. The pleading asserts that the Company's disclosures omitted the specific, realized risk that its shares were the target of a coordinated promotional and manipulation scheme, including fabricated rumors of an acquisition by Gilead Sciences, Inc.

ERISA and Fiduciary Considerations

Fiduciaries governed by ERISA and comparable state standards are generally expected to evaluate whether available legal remedies should be pursued on behalf of plan participants and beneficiaries. As averred in the complaint, the professionals who brought the Company public had prior involvement with foreign microcap offerings that later became targets of similar schemes, an allegation that may bear on the scope of recoverable damages.

Fiduciary Obligations and Recovery Options

• Documenting Class Period acquisitions and dispositions supports both loss evaluation and internal recordkeeping obligations.
• Institutions with the largest documented losses are most frequently considered for lead plaintiff appointment.
• Serving as lead plaintiff provides direct oversight of counsel, strategy, and settlement posture.
• Declining to seek lead plaintiff status does not forfeit participation in any eventual recovery.
• Evaluations are conducted at no cost and without obligation to the institution.
  
  

"Institutional investors play a critical role in securities class actions, and the alleged failure to warn of a specific, foreseeable manipulation risk in a small-float offering is the kind of issue fiduciaries are well positioned to test," -- Joseph E. Levi, Esq.

Contact us to learn more about institutional recovery options or call (212) 363-7500.

INSTITUTIONAL INVESTOR REPRESENTATION — Levi & Korsinsky, LLP provides sophisticated counsel to institutional investors evaluating lead plaintiff opportunities. The firm has recovered hundreds of millions of dollars. Ranked among ISS Top 50 for seven consecutive years.

Frequently Asked Questions About the iTonic Lawsuit

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 court was the iTonic class action filed in? A: The case was filed in the United States District Court for the Southern District of New York, governed by the Private Securities Litigation Reform Act of 1995.

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 documents do I need to submit my information? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What does it cost me to participate? A: There is no upfront cost to contact the firm. Securities class actions are generally handled on a pure contingency basis, with no retainer and no out-of-pocket costs. Any attorneys' fees and expenses awarded to class counsel are 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.

Ed Korsinsky, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

jlevi@levikorsinsky.com

Tel: (212) 363-7500

Fax: (212) 363-7171

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