#United States #New York #Securities Fraud #Pomerantz LLP #Profound Medical

Pomerantz Law Firm Launches Investigation into Profound Medical Corp.

Pomerantz LLP, a prestigious law firm known for its expertise in corporate and securities litigation, has announced an investigation focusing on Profound Medical Corp., a medical technology firm listed on NASDAQ under the ticker PROF. This inquiry aims to determine whether the Company and its top leaders have engaged in securities fraud or other unlawful business practices towards their investors.

On March 7, 2025, Profound Medical publicly revealed a significant issue in its financial reporting. The Company disclosed an error that resulted in an overstatement of revenue by $472,000 for the first quarter of the year 2024. In light of this revelation, Profound stated that its financial reports for the first three quarters of 2024 are no longer reliable and that the Company plans to submit restated interim financial statements as soon as possible. Following the announcement, shares of Profound Medical experienced a notable decline, closing at $6.86, down $0.43 or 5.9% on that trading day.

As part of the investigation, Pomerantz LLP encourages current and former investors of Profound Medical who may have been adversely affected by these events to reach out for further information. Danielle Peyton, a legal representative at Pomerantz, is available via email and phone for any inquiries related to potential damages or participation in a class action lawsuit.

The firm’s history establishes it as a frontrunner in advocating for investors' rights, particularly those who have suffered from the repercussions of corporate malfeasance. Founded by the respected attorney Abraham L. Pomerantz, the firm has built a legacy of advocating against securities fraud and has successfully supported numerous class action claims that resulted in multimillion-dollar settlements.

Given the fallout from Profound Medical’s financial reporting error, the investigation is likely to delve deeper into the Company’s internal practices, particularly the roles of its officers and directors, and whether they took adequate measures to address the discrepancy in revenue reporting. Shareholders are cautioned to monitor developments closely, as the outcomes of such investigations could significantly influence the Company’s stock value and investor trust moving forward.

Investors wishing to stay informed about this situation and explore their legal options are advised to maintain regular communication with legal counsel. Pomerantz LLP’s focus on securities litigation positions the firm as a pivotal ally for affected investors seeking justice for any potential wrongdoing associated with Profound Medical Corp.

Pomerantz, with its global presence across major cities like New York, Chicago, and London, embodies a robust institution in investor protection. Established for over 85 years, it continues to stand firm against corporate misconduct, exemplifying its commitment to the rights of the investors.

For comprehensive updates about the ongoing investigation or the implications for Profound Medical, interested parties can follow further announcements from Pomerantz LLP as this case unfolds. Stay alert for news regarding potential class action participation, which could offer restitution for investors impacted by the reported financial irregularities.