The complaint filed against iTonic Holdings (NASDAQ: ITOC) accuses the company’s officers, directors, auditor Marcum Asia CPAs LLP, and underwriters Cathay Securities and Dominari Securities of orchestrating a fraudulent campaign. Plaintiffs allege that promoters impersonated financial advisors to circulate baseless claims, including rumors of an acquisition by Gilead Sciences, to inflate share prices artificially.
The scheme unraveled on July 29, 2025, when the company's stock price plummeted approximately 95% in a single trading session. Pomerantz LLP is spearheading the legal effort for shareholders who acquired Class A ordinary shares during the designated class period. Those interested in participating are directed to contact Danielle Peyton at 646-581-9980 or via email at dpeyton@pomlaw.com to provide purchase details and contact information.
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