{"success":true,"data":{"pressRelease":{"id":"150093","rtpr_id":"nGNX5d8Ny5-20260922","ticker":"ITOC","exchange":"NASDAQ","all_tickers":["ITOC"],"title":"Portnoy Law Firm Announces Class Action on Behalf of iTonic Holdings, Ltd. Investors","author":"Globe Newswire","published_at":"2026-09-22T16:54:56.099Z","article_body":"LOS ANGELES, Sept. 22, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm\n(https://www.globenewswire.com/Tracker?data=mSws8CBnyfoA1DDURUtABvMWdHg1M1mahHyMZOAlbAaKuUslUVNIt31JNq6NTlNJhC7aQDvM5KGj4OXqCAYZoBBupEaCyulBO4tYD-DkrhH1He2czRuPL1IRgqdqVTsl)\nadvises iTonic Holdings, Ltd., (“iTonic” or the \"Company\") (NASDAQ: ITOC)\ninvestors of a class action on behalf of investors that bought securities\nbetween September 5, 2024 - July 29, 2025, inclusive (the “Class Period”).\niTonic investors have until September 28, 2026 to file a lead plaintiff\nmotion.\n\nInvestors are encouraged to contact attorney Lesley F. Portnoy\n(https://www.globenewswire.com/Tracker?data=e9CKPxYSwaxd3qIkdwCtP2Mipn-JovWmmKKpjuzNC_UUZkxvBXpd6q95BjzyDD_F4A5hw31SeCapBBB8HIcCMV-ZBj0pOp5skUNRLDBhxqQ234Fw3VTWPyUpj7rXMObg), by\nphone 310-692-8883 or email\n(https://www.globenewswire.com/Tracker?data=7bfwY2nWJKctMDW2UBIzg8xtsh_uFOsZ_JyZfAA2AmbuOOWMyni_RXT2yRJDilRR7uooxNzIqPGPjKo2FShZeQNF5mJaRFNoC_wBp2wqj8A=):\nlesley@portnoylaw.com, to discuss their legal rights, or join the case via\nhttps://portnoylaw.com/itonic-holdings-ltd. The Portnoy Law Firm can provide a\ncomplimentary case evaluation and discuss investors’ options for pursuing\nclaims to recover their losses.\n\nA Complaint has been filed on behalf of purchasers or acquirers of the\nCompany’s Class A ordinary shares, alleging that certain of the Company’s\nofficers and directors, its auditor (Marcum Asia CPAs LLP), and the\nunderwriters of its initial public offering (Cathay Securities, Inc. and\nDominari Securities LLC) orchestrated a “pump-and-dump” scheme to defraud\ninvestors in Pheton, in which promoters impersonating legitimate financial\nadvisors touted the Company’s shares with baseless claims, including\nfabricated rumors of an acquisition by Gilead Sciences, Inc. The scheme\ncollapsed on July 29, 2025, when Pheton’s stock price fell approximately 95%\nin a single trading session.\n\nThe Portnoy Law Firm represents investors in pursuing claims caused by\ncorporate wrongdoing. The Firm’s founding partner has recovered over $5.5\nbillion for aggrieved investors. Attorney advertising. Prior results do not\nguarantee similar outcomes.\n\nLesley F. Portnoy, Esq.\nAdmitted CA, NY and TX Bar\nlesley@portnoylaw.com\n310-692-8883\nwww.portnoylaw.com\n\nAttorney Advertising\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/ea0dd9c0-6e41-4d5a-ad27-b277677af6df)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX5d8Ny5-20260922","title":"Portnoy Law Firm Announces Class Action on Behalf of iTonic Holdings, Ltd. Investors","author":"Globe Newswire","ticker":"ITOC","created":"2026-09-22T16:54:56.099Z","tickers":["ITOC"],"exchange":"NASDAQ","article_body":"LOS ANGELES, Sept. 22, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm\n(https://www.globenewswire.com/Tracker?data=mSws8CBnyfoA1DDURUtABvMWdHg1M1mahHyMZOAlbAaKuUslUVNIt31JNq6NTlNJhC7aQDvM5KGj4OXqCAYZoBBupEaCyulBO4tYD-DkrhH1He2czRuPL1IRgqdqVTsl)\nadvises iTonic Holdings, Ltd., (“iTonic” or the \"Company\") (NASDAQ: ITOC)\ninvestors of a class action on behalf of investors that bought securities\nbetween September 5, 2024 - July 29, 2025, inclusive (the “Class Period”).\niTonic investors have until September 28, 2026 to file a lead plaintiff\nmotion.\n\nInvestors are encouraged to contact attorney Lesley F. Portnoy\n(https://www.globenewswire.com/Tracker?data=e9CKPxYSwaxd3qIkdwCtP2Mipn-JovWmmKKpjuzNC_UUZkxvBXpd6q95BjzyDD_F4A5hw31SeCapBBB8HIcCMV-ZBj0pOp5skUNRLDBhxqQ234Fw3VTWPyUpj7rXMObg), by\nphone 310-692-8883 or email\n(https://www.globenewswire.com/Tracker?data=7bfwY2nWJKctMDW2UBIzg8xtsh_uFOsZ_JyZfAA2AmbuOOWMyni_RXT2yRJDilRR7uooxNzIqPGPjKo2FShZeQNF5mJaRFNoC_wBp2wqj8A=):\nlesley@portnoylaw.com, to discuss their legal rights, or join the case via\nhttps://portnoylaw.com/itonic-holdings-ltd. The Portnoy Law Firm can provide a\ncomplimentary case evaluation and discuss investors’ options for pursuing\nclaims to recover their losses.\n\nA Complaint has been filed on behalf of purchasers or acquirers of the\nCompany’s Class A ordinary shares, alleging that certain of the Company’s\nofficers and directors, its auditor (Marcum Asia CPAs LLP), and the\nunderwriters of its initial public offering (Cathay Securities, Inc. and\nDominari Securities LLC) orchestrated a “pump-and-dump” scheme to defraud\ninvestors in Pheton, in which promoters impersonating legitimate financial\nadvisors touted the Company’s shares with baseless claims, including\nfabricated rumors of an acquisition by Gilead Sciences, Inc. The scheme\ncollapsed on July 29, 2025, when Pheton’s stock price fell approximately 95%\nin a single trading session.\n\nThe Portnoy Law Firm represents investors in pursuing claims caused by\ncorporate wrongdoing. The Firm’s founding partner has recovered over $5.5\nbillion for aggrieved investors. Attorney advertising. Prior results do not\nguarantee similar outcomes.\n\nLesley F. Portnoy, Esq.\nAdmitted CA, NY and TX Bar\nlesley@portnoylaw.com\n310-692-8883\nwww.portnoylaw.com\n\nAttorney Advertising\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/ea0dd9c0-6e41-4d5a-ad27-b277677af6df)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-09-22T16:54:56.135481836Z","server_sent_at_ms":1790096096135},"received_at":"2026-09-22T16:54:56.300Z","source_url":null},"analysis":{"id":"138786","press_release_id":"150093","analysis_json":{"industry":null,"redFlags":["alleged pump-and-dump scheme including fabricated acquisition rumors","approximately 95% single-day stock collapse on July 29, 2025","auditor and IPO underwriters named as defendants"],"eventType":"legal_litigation","narrative":"The Portnoy Law Firm announced a class action against iTonic Holdings, naming officers, directors, auditor Marcum Asia, and IPO underwriters Cathay Securities and Dominari Securities as alleged participants in a pump-and-dump scheme.\n\nThe complaint alleges promoters impersonating financial advisors spread baseless claims, including a fabricated Gilead Sciences acquisition rumor, and the scheme collapsed on July 29, 2025 when the stock fell roughly 95% in one session.\n\nInvestors who bought shares between September 5, 2024 and July 29, 2025 have until September 28, 2026 to file a lead plaintiff motion. This is law-firm solicitation, not an issuer disclosure.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Plaintiff-firm class-action solicitation on a collapsed pump-and-dump -- suppress."},"keyFigures":{"customDimensions":{"class_period":"September 5, 2024 - July 29, 2025","lead_plaintiff_deadline":"September 28, 2026","single_day_price_decline":"approximately 95%"}},"namedEntities":{"people":[{"name":"Lesley F. Portnoy","role":"Founding partner / attorney, Portnoy Law Firm"}],"products":[],"companies":[{"name":"iTonic Holdings, Ltd.","ticker":"ITOC","relationship":"issuer / defendant target of class action"},{"name":"Portnoy Law Firm","relationship":"plaintiff law firm (author)"},{"name":"Marcum Asia CPAs LLP","relationship":"auditor / named defendant"},{"name":"Cathay Securities, Inc.","relationship":"IPO underwriter / named defendant"},{"name":"Dominari Securities LLC","relationship":"IPO underwriter / named defendant"},{"name":"Gilead Sciences, Inc.","relationship":"subject of fabricated acquisition rumor"}],"dollarAmounts":[{"amount":"$5.5 billion","context":"firm's claimed lifetime recoveries for investors (attorney advertising)"}]},"materialImpact":{"score":1,"reasoning":"Plaintiff law-firm solicitation by the Portnoy Law Firm announcing a class action and lead plaintiff deadline; no issuer disclosure and no certified class or settlement."},"tickerRelevance":{"others":[],"primary":"ITOC"},"globalImportance":12,"audienceRelevance":8,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false,"fraudAllegationSeverity":"high but already priced in via collapse"}},"event_type":"legal_litigation","event_type_secondary":null,"sentiment":"neutral","material_impact_score":1,"narrative":"The Portnoy Law Firm announced a class action against iTonic Holdings, naming officers, directors, auditor Marcum Asia, and IPO underwriters Cathay Securities and Dominari Securities as alleged participants in a pump-and-dump scheme.\n\nThe complaint alleges promoters impersonating financial advisors spread baseless claims, including a fabricated Gilead Sciences acquisition rumor, and the scheme collapsed on July 29, 2025 when the stock fell roughly 95% in one session.\n\nInvestors who bought shares between September 5, 2024 and July 29, 2025 have until September 28, 2026 to file a lead plaintiff motion. This is law-firm solicitation, not an issuer disclosure.","key_figures":{"customDimensions":{"class_period":"September 5, 2024 - July 29, 2025","lead_plaintiff_deadline":"September 28, 2026","single_day_price_decline":"approximately 95%"}},"named_entities":{"people":[{"name":"Lesley F. Portnoy","role":"Founding partner / attorney, Portnoy Law Firm"}],"products":[],"companies":[{"name":"iTonic Holdings, Ltd.","ticker":"ITOC","relationship":"issuer / defendant target of class action"},{"name":"Portnoy Law Firm","relationship":"plaintiff law firm (author)"},{"name":"Marcum Asia CPAs LLP","relationship":"auditor / named defendant"},{"name":"Cathay Securities, Inc.","relationship":"IPO underwriter / named defendant"},{"name":"Dominari Securities LLC","relationship":"IPO underwriter / named defendant"},{"name":"Gilead Sciences, Inc.","relationship":"subject of fabricated acquisition rumor"}],"dollarAmounts":[{"amount":"$5.5 billion","context":"firm's claimed lifetime recoveries for investors (attorney advertising)"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-22T17:08:15.847Z","global_importance":12,"audience_relevance":8,"importance_components":{"tickerTier":"micro-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false,"fraudAllegationSeverity":"high but already priced in via collapse"}},"durationMs":9137,"modelName":"glm-5.3-flash"}}