Portnoy Law Firm Announces Class Action on Behalf of iTonic Holdings, Ltd. Investors
Portnoy Law Firm announced a class action against iTonic Holdings (NASDAQ: ITOC) on behalf of investors who bought shares between September 5, 2024 and July 29, 2025, with a September 28, 2026 deadline to move for lead plaintiff. The complaint names certain officers and directors, auditor Marcum Asia CPAs LLP, and IPO underwriters Cathay Securities and Dominari Securities, alleging they orchestrated a pump-and-dump scheme that included fabricated rumors of an acquisition by Gilead Sciences, promoted by imposters posing as financial advisors. The alleged scheme collapsed on July 29, 2025, when the stock fell approximately 95% in a single trading session.
Key figures
- Class period
- September 5, 2024 - July 29, 2025
- Lead plaintiff deadline
- September 28, 2026
- Alleged single day stock decline
- approximately 95% (July 29, 2025)
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