{"success":true,"data":{"pressRelease":{"id":"112663","rtpr_id":"nPn58L9x5a","ticker":"ITOC","exchange":"NASDAQ","all_tickers":["ITOC"],"title":"PTHL Shareholder Notice: Shareholder Rights Law Firm Robbins LLP Reminds Investors of the Class Action Against iTonic Holdings Ltd. (ITOC)- Previously Knowns as Pheton Holdings Ltd. (PTHL)","author":"PR Newswire","published_at":"2026-08-07T11:00:00.051Z","article_body":"PTHL Shareholder Notice: Shareholder Rights Law Firm Robbins LLP Reminds Investors of the Class Action Against iTonic Holdings Ltd. (ITOC)- Previously Knowns as Pheton Holdings Ltd. (PTHL)\n\nPR Newswire\n\nSAN DIEGO, Aug. 7, 2026\n\nSAN DIEGO, Aug. 7, 2026 /PRNewswire/ -- Robbins LLP\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4747794-1&h=2736115330&u=https%3A%2F%2Frobbinsllp.com%2Fitonic-holdings-ltd%2F&a=Robbins+LLP)\n reminds investors that a securities class action has been filed on behalf of\nall persons and entities that purchased or otherwise acquired Pheton Holdings\nLtd (NASDAQ: PTHL) (n/k/a iTonic Holdings Ltd. (NASDAQ: ITOC)) securities\nbetween September 5, 2024 and July 29, 2025 (the \"Class Period\"). On January\n13, 2026, the Company announced it was changing its name to iTonic Holdings\nLtd. and changing its ticker symbol to ITOC effective January 16, 2026.\n\nThe lawsuit alleges that Pheton Holdings Ltd. was the subject of a market\nmanipulation and fraudulent promotion scheme involving social-media\nmisinformation and individuals impersonating financial professionals, and that\nthe Company failed to adequately disclose risks associated with the alleged\nscheme.\n\nInvestors who suffered losses during the Class Period may have legal rights\nand should contact Robbins LLP aware of the September 28, 2026 deadline to\nseek appointment as lead plaintiff.\n\nWhy Was iTonic Sued?\n\nAccording to the complaint, iTonic (f/k/a Pheton Holdings Ltd.) was subjected\nto a pump-and-dump and market manipulation scheme involving social-media-based\nmisinformation and individuals allegedly impersonating financial\nprofessionals.\n\nThe lawsuit alleges the Company and certain defendants failed to adequately\ndisclose material risks associated with the alleged market manipulation and\nfraudulent promotion activity.\n\nAccording to plaintiff, defendants failed to disclose that:\n\n(1) PTHL was the subject of a market manipulation and fraudulent promotion\nscheme involving social-media based misinformation and impersonators posing as\nfinancial professionals;\n\n(2) PTHL's public statements and risk disclosures omitted any mention of\nintention to use fraudulent trading or the realized risk of market\nmanipulation used to drive the Company's stock price;\n\n(3) as a result, the Company's securities were at unique risk of extreme price\nvolatility and trading halts triggered by the manipulation scheme;\n\n(4) the Auditor Defendant and Underwriter Defendants had been involved with\nnumerous foreign microcap public offerings that became targets of market\nmanipulation schemes; and\n\n(5) as a result of the foregoing, defendants' positive statements about the\nCompany's business, operations and prospects were materially misleading and/or\nlacked a reasonable basis.\n\nWhy Did the Company's Stock Collapse?\n\nThis complaint alleges that the collapse of the Company's stock followed an\nartificial price surge created through fraudulent stock promotions conducted\nimmediately after the Company's initial public offering (\"IPO\"). The Company's\nstock price increased from its IPO price of $4.00 to an all-time intraday high\nof $32.00 per share on July 28, 2025, despite the absence of any material\ncorporate developments or legitimate business prospects to justify such an\nenormous spike.\n\nInvestigations and public reports have revealed the Company stock was utilized\nin a market manipulation and \"pump-and-dump\" promotional scheme, with\nimpersonators claiming to be legitimate financial advisors touting the\nCompany in online forums, chat groups, and social media posts with baseless\nclaims to create a buying frenzy among retail investors. The promoters\ncirculated fabricated rumors that Gilead Sciences, Inc. (NASDAQ: GILD)\n(\"Gilead\") was preparing to acquire or partner with the Company with a\ntransaction date of August 6, 2025.\n\nAccording to the complaint, on July 29, 2025, at approximately 12:26 PM EDT,\nPheton stock sank 11% and triggered a volatility halt. When trading resumed\napproximately 90 minutes later, the stock's plunge reached 89% before trading\nwas halted again. As the day continued, Pheton resumed trading and was halted\nat least eight more times, as it extended its decline to 95%. The Company's\nshares ended the day at $1.65, with a market capitalization of $40.8 million,\ndown from $765 million the prior trading day.\n\nWho May Be Eligible to Participate?\n\nThe lawsuit seeks to represent investors who purchased or otherwise acquired\nPheton Holdings Ltd. (PTHL) securities during the applicable Class Period.\n\nIf you purchased Pheton stock during this period and suffered investment\nlosses, you may have rights under the federal securities laws.\n\nWhat Is a Lead Plaintiff?\n\nThe lead plaintiff is the investor appointed by the court to represent the\ninterests of the proposed class throughout the litigation. Investors do not\nhave to serve as lead plaintiff to potentially share in any recovery if the\nlawsuit is successful. If you want to seek appointment as lead plaintiff, you\nmust submit your papers to the court by September 28, 2026.\n\nDoes It Cost Anything to Participate?\n\nRobbins LLP represents investors on a contingency fee basis. Investors never\npay attorneys' fees or litigation expenses. If there is a recovery, defendants\npay fees and expenses.\n\nContact Robbins LLP\n\nInvestors seeking additional information about the iTonic Holdings securities\nclass action may submit an inquiry\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4747794-1&h=1165217125&u=https%3A%2F%2Frobbinsllp.com%2Fitonic-holdings-ltd%2F&a=submit+an+inquiry)\n through Robbins LLP's website, email (mailto:adumas@robbinsllp.com)\n attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.\n\nAbout Robbins LLP\n\nA recognized leader in shareholder rights litigation, Robbins LLP\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4747794-1&h=2509286807&u=https%3A%2F%2Frobbinsllp.com%2F&a=Robbins+LLP)\n has helped restore more than $1 billion in value to shareholders, secured\nsome of the largest recoveries in shareholder derivative litigation history,\nand achieved governance reforms at over 400 Fortune 1000 companies.\n\n\"Behind everything we do is the belief that companies should be governed\nresponsibly, fiduciaries should be held accountable, and shareholders deserve\ntransparency and fairness,\" said Brian J. Robbins, Founding Partner of Robbins\nLLP.\n\nTo be notified if a class action against iTonic Holdings Ltd. settles or to\nreceive free alerts when corporate executives engage in wrongdoing, sign up\nfor Stock Watch\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4747794-1&h=847955753&u=https%3A%2F%2Frobbinsllp.com%2Fstock-watch%2F&a=Stock+Watch)\n today.\n\nAttorney Advertising. Past results do not guarantee a similar outcome.\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/pthl-shareholder-notice-shareholder-rights-law-firm-robbins-llp-reminds-investors-of-the-class-action-against-itonic-holdings-ltd-itoc-previously-knowns-as-pheton-holdings-ltd-pthl-302845697.html\n(https://www.prnewswire.com/news-releases/pthl-shareholder-notice-shareholder-rights-law-firm-robbins-llp-reminds-investors-of-the-class-action-against-itonic-holdings-ltd-itoc-previously-knowns-as-pheton-holdings-ltd-pthl-302845697.html)\n\nSOURCE Robbins LLP\n\n\n\nAaron Dumas, Jr., Robbins LLP, 5060 Shoreham Pl., Ste. 300, San Diego, CA 92122, adumas@robbinsllp.com, (800) 350-6003, www.robbinsllp.com\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS559099/Robbins-LLP-Logo.jpg?id=OA2834089\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn58L9x5a","title":"PTHL Shareholder Notice: Shareholder Rights Law Firm Robbins LLP Reminds Investors of the Class Action Against iTonic Holdings Ltd. (ITOC)- Previously Knowns as Pheton Holdings Ltd. (PTHL)","author":"PR Newswire","ticker":"ITOC","created":"2026-08-07T11:00:00.051Z","tickers":["ITOC"],"exchange":"NASDAQ","article_body":"PTHL Shareholder Notice: Shareholder Rights Law Firm Robbins LLP Reminds Investors of the Class Action Against iTonic Holdings Ltd. (ITOC)- Previously Knowns as Pheton Holdings Ltd. (PTHL)\n\nPR Newswire\n\nSAN DIEGO, Aug. 7, 2026\n\nSAN DIEGO, Aug. 7, 2026 /PRNewswire/ -- Robbins LLP\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4747794-1&h=2736115330&u=https%3A%2F%2Frobbinsllp.com%2Fitonic-holdings-ltd%2F&a=Robbins+LLP)\n reminds investors that a securities class action has been filed on behalf of\nall persons and entities that purchased or otherwise acquired Pheton Holdings\nLtd (NASDAQ: PTHL) (n/k/a iTonic Holdings Ltd. (NASDAQ: ITOC)) securities\nbetween September 5, 2024 and July 29, 2025 (the \"Class Period\"). On January\n13, 2026, the Company announced it was changing its name to iTonic Holdings\nLtd. and changing its ticker symbol to ITOC effective January 16, 2026.\n\nThe lawsuit alleges that Pheton Holdings Ltd. was the subject of a market\nmanipulation and fraudulent promotion scheme involving social-media\nmisinformation and individuals impersonating financial professionals, and that\nthe Company failed to adequately disclose risks associated with the alleged\nscheme.\n\nInvestors who suffered losses during the Class Period may have legal rights\nand should contact Robbins LLP aware of the September 28, 2026 deadline to\nseek appointment as lead plaintiff.\n\nWhy Was iTonic Sued?\n\nAccording to the complaint, iTonic (f/k/a Pheton Holdings Ltd.) was subjected\nto a pump-and-dump and market manipulation scheme involving social-media-based\nmisinformation and individuals allegedly impersonating financial\nprofessionals.\n\nThe lawsuit alleges the Company and certain defendants failed to adequately\ndisclose material risks associated with the alleged market manipulation and\nfraudulent promotion activity.\n\nAccording to plaintiff, defendants failed to disclose that:\n\n(1) PTHL was the subject of a market manipulation and fraudulent promotion\nscheme involving social-media based misinformation and impersonators posing as\nfinancial professionals;\n\n(2) PTHL's public statements and risk disclosures omitted any mention of\nintention to use fraudulent trading or the realized risk of market\nmanipulation used to drive the Company's stock price;\n\n(3) as a result, the Company's securities were at unique risk of extreme price\nvolatility and trading halts triggered by the manipulation scheme;\n\n(4) the Auditor Defendant and Underwriter Defendants had been involved with\nnumerous foreign microcap public offerings that became targets of market\nmanipulation schemes; and\n\n(5) as a result of the foregoing, defendants' positive statements about the\nCompany's business, operations and prospects were materially misleading and/or\nlacked a reasonable basis.\n\nWhy Did the Company's Stock Collapse?\n\nThis complaint alleges that the collapse of the Company's stock followed an\nartificial price surge created through fraudulent stock promotions conducted\nimmediately after the Company's initial public offering (\"IPO\"). The Company's\nstock price increased from its IPO price of $4.00 to an all-time intraday high\nof $32.00 per share on July 28, 2025, despite the absence of any material\ncorporate developments or legitimate business prospects to justify such an\nenormous spike.\n\nInvestigations and public reports have revealed the Company stock was utilized\nin a market manipulation and \"pump-and-dump\" promotional scheme, with\nimpersonators claiming to be legitimate financial advisors touting the\nCompany in online forums, chat groups, and social media posts with baseless\nclaims to create a buying frenzy among retail investors. The promoters\ncirculated fabricated rumors that Gilead Sciences, Inc. (NASDAQ: GILD)\n(\"Gilead\") was preparing to acquire or partner with the Company with a\ntransaction date of August 6, 2025.\n\nAccording to the complaint, on July 29, 2025, at approximately 12:26 PM EDT,\nPheton stock sank 11% and triggered a volatility halt. When trading resumed\napproximately 90 minutes later, the stock's plunge reached 89% before trading\nwas halted again. As the day continued, Pheton resumed trading and was halted\nat least eight more times, as it extended its decline to 95%. The Company's\nshares ended the day at $1.65, with a market capitalization of $40.8 million,\ndown from $765 million the prior trading day.\n\nWho May Be Eligible to Participate?\n\nThe lawsuit seeks to represent investors who purchased or otherwise acquired\nPheton Holdings Ltd. (PTHL) securities during the applicable Class Period.\n\nIf you purchased Pheton stock during this period and suffered investment\nlosses, you may have rights under the federal securities laws.\n\nWhat Is a Lead Plaintiff?\n\nThe lead plaintiff is the investor appointed by the court to represent the\ninterests of the proposed class throughout the litigation. Investors do not\nhave to serve as lead plaintiff to potentially share in any recovery if the\nlawsuit is successful. If you want to seek appointment as lead plaintiff, you\nmust submit your papers to the court by September 28, 2026.\n\nDoes It Cost Anything to Participate?\n\nRobbins LLP represents investors on a contingency fee basis. Investors never\npay attorneys' fees or litigation expenses. If there is a recovery, defendants\npay fees and expenses.\n\nContact Robbins LLP\n\nInvestors seeking additional information about the iTonic Holdings securities\nclass action may submit an inquiry\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4747794-1&h=1165217125&u=https%3A%2F%2Frobbinsllp.com%2Fitonic-holdings-ltd%2F&a=submit+an+inquiry)\n through Robbins LLP's website, email (mailto:adumas@robbinsllp.com)\n attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.\n\nAbout Robbins LLP\n\nA recognized leader in shareholder rights litigation, Robbins LLP\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4747794-1&h=2509286807&u=https%3A%2F%2Frobbinsllp.com%2F&a=Robbins+LLP)\n has helped restore more than $1 billion in value to shareholders, secured\nsome of the largest recoveries in shareholder derivative litigation history,\nand achieved governance reforms at over 400 Fortune 1000 companies.\n\n\"Behind everything we do is the belief that companies should be governed\nresponsibly, fiduciaries should be held accountable, and shareholders deserve\ntransparency and fairness,\" said Brian J. Robbins, Founding Partner of Robbins\nLLP.\n\nTo be notified if a class action against iTonic Holdings Ltd. settles or to\nreceive free alerts when corporate executives engage in wrongdoing, sign up\nfor Stock Watch\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4747794-1&h=847955753&u=https%3A%2F%2Frobbinsllp.com%2Fstock-watch%2F&a=Stock+Watch)\n today.\n\nAttorney Advertising. Past results do not guarantee a similar outcome.\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/pthl-shareholder-notice-shareholder-rights-law-firm-robbins-llp-reminds-investors-of-the-class-action-against-itonic-holdings-ltd-itoc-previously-knowns-as-pheton-holdings-ltd-pthl-302845697.html\n(https://www.prnewswire.com/news-releases/pthl-shareholder-notice-shareholder-rights-law-firm-robbins-llp-reminds-investors-of-the-class-action-against-itonic-holdings-ltd-itoc-previously-knowns-as-pheton-holdings-ltd-pthl-302845697.html)\n\nSOURCE Robbins LLP\n\n\n\nAaron Dumas, Jr., Robbins LLP, 5060 Shoreham Pl., Ste. 300, San Diego, CA 92122, adumas@robbinsllp.com, (800) 350-6003, www.robbinsllp.com\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS559099/Robbins-LLP-Logo.jpg?id=OA2834089\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-08-07T11:00:00.121650464Z","server_sent_at_ms":1786100400121},"received_at":"2026-08-07T11:00:00.172Z","source_url":"https://www.prnewswire.com/news-releases/pthl-shareholder-notice-shareholder-rights-law-firm-robbins-llp-reminds-investors-of-the-class-action-against-itonic-holdings-ltd-itoc-previously-knowns-as-pheton-holdings-ltd-pthl-302845697.html"},"analysis":{"id":"101667","press_release_id":"112663","analysis_json":{"industry":null,"redFlags":["Allegations of pump-and-dump scheme and market manipulation","Stock collapsed 95% in a single day following artificial surge","Allegations of impersonation of financial professionals to promote stock"],"eventType":"legal_litigation","narrative":"Robbins LLP issued a reminder to iTonic Holdings (formerly Pheton Holdings) investors regarding a class action lawsuit alleging a market manipulation and pump-and-dump scheme.\n\nThe complaint alleges the company's stock was artificially inflated via social media misinformation and impersonation of financial professionals before collapsing 95% on July 29, 2025.\n\nInvestors who purchased securities between September 5, 2024, and July 29, 2025, have a September 28, 2026 deadline to seek appointment as lead plaintiff.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Plaintiff-firm solicitation -- suppress."},"keyFigures":{"customDimensions":{"ipo_price":4,"intraday_high":32,"class_period_end":"July 29, 2025","class_period_start":"September 5, 2024","lead_plaintiff_deadline":"September 28, 2026"}},"quotedText":"Behind everything we do is the belief that companies should be governed responsibly, fiduciaries should be held accountable, and shareholders deserve transparency and fairness","namedEntities":{"people":[{"name":"Aaron Dumas, Jr.","role":"Attorney"},{"name":"Brian J. Robbins","role":"Founding Partner"}],"products":["Stock Watch"],"companies":[{"name":"Robbins LLP","relationship":"plaintiff law firm"},{"name":"iTonic Holdings Ltd.","ticker":"ITOC"},{"name":"Pheton Holdings Ltd.","ticker":"PTHL"},{"name":"Gilead Sciences, Inc.","ticker":"GILD","relationship":"mentioned in rumors"}],"dollarAmounts":[{"amount":"$4.00","context":"IPO price"},{"amount":"$32.00","context":"all-time intraday high on July 28, 2025"},{"amount":"$1.65","context":"share price at close on July 29, 2025"},{"amount":"$40.8 million","context":"market capitalization on July 29, 2025"},{"amount":"$765 million","context":"market capitalization on prior trading day"}]},"materialImpact":{"score":1,"reasoning":"Plaintiff law-firm solicitation issued by Robbins LLP. No new disclosure from the issuer; no certified class, no settlement, and no court action beyond the initial filing."},"tickerRelevance":{"others":[{"ticker":"GILD","relevance":"mentioned"}],"primary":"ITOC"},"globalImportance":15,"audienceRelevance":10,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"event_type":"legal_litigation","event_type_secondary":null,"sentiment":"neutral","material_impact_score":1,"narrative":"Robbins LLP issued a reminder to iTonic Holdings (formerly Pheton Holdings) investors regarding a class action lawsuit alleging a market manipulation and pump-and-dump scheme.\n\nThe complaint alleges the company's stock was artificially inflated via social media misinformation and impersonation of financial professionals before collapsing 95% on July 29, 2025.\n\nInvestors who purchased securities between September 5, 2024, and July 29, 2025, have a September 28, 2026 deadline to seek appointment as lead plaintiff.","key_figures":{"customDimensions":{"ipo_price":4,"intraday_high":32,"class_period_end":"July 29, 2025","class_period_start":"September 5, 2024","lead_plaintiff_deadline":"September 28, 2026"}},"named_entities":{"people":[{"name":"Aaron Dumas, Jr.","role":"Attorney"},{"name":"Brian J. Robbins","role":"Founding Partner"}],"products":["Stock Watch"],"companies":[{"name":"Robbins LLP","relationship":"plaintiff law firm"},{"name":"iTonic Holdings Ltd.","ticker":"ITOC"},{"name":"Pheton Holdings Ltd.","ticker":"PTHL"},{"name":"Gilead Sciences, Inc.","ticker":"GILD","relationship":"mentioned in rumors"}],"dollarAmounts":[{"amount":"$4.00","context":"IPO price"},{"amount":"$32.00","context":"all-time intraday high on July 28, 2025"},{"amount":"$1.65","context":"share price at close on July 29, 2025"},{"amount":"$40.8 million","context":"market capitalization on July 29, 2025"},{"amount":"$765 million","context":"market capitalization on prior trading day"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-07T13:23:13.786Z","global_importance":15,"audience_relevance":10,"importance_components":{"tickerTier":"micro-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"durationMs":387731,"modelName":"glm-4.7"}}