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Class action lawsuit filed against iTonic Holdings for alleged securities fraud in a pump-and-dump scheme.

Market News
24 Sep 2026
PRNewsWire
View Source
Bearish
Class action lawsuit filed against iTonic Holdings for alleged securities fraud in a pump-and-dump scheme.

A class action lawsuit has been filed against iTonic Holdings Ltd (formerly Pheton Holdings Ltd) alleging that the company, its officers, auditor, and IPO underwriters engaged in a pump-and-dump scheme. The lawsuit claims promoters impersonated financial advisors to spread false acquisition rumors, causing the stock price to collapse by about 95% in one day on July 29, 2025. Investors who purchased shares during the class period are advised to contact the law firm Pomerantz LLP to join the case. This lawsuit highlights risks of securities fraud and aims to recover damages for affected investors.

The Technology sector on Pluang saw 59 stocks rise and 90 fall out of 150 priced US stocks as of Sep 25, 2026 04:12 WIB. In this context, Unity Software Inc (U) traded at USD 41.05 with a 1-day change of -6.92% and 100% buy order activity, Dropbox Inc (DBX) was at USD 33.85 down 6.00% with 100% buy orders, while BlackBerry Limited (BB) rose 5.55% to USD 8.85 with 89% buy orders. For readers following the iTonic Holdings Ltd class action lawsuit, here is Pluang's market snapshot as of the same date and time.

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