Pomerantz Law Firm Launches Investigation into Quanterix Corp. for Investor Claims of Securities Fraud

Pomerantz Law Firm Investigates Quanterix Corporation for Investor Claims

The prominent Pomerantz Law Firm is currently looking into allegations regarding Quanterix Corporation (NASDAQ: QTRX), representing the interests of concerned investors. This inquiry stems from a recent report that raised serious questions about the accuracy of the company's financial statements and its business practices.

In an official announcement made on January 28, 2025, Pomerantz informed stakeholders about their intent to thoroughly investigate claims that Quanterix and certain members of its management may have engaged in unlawful activities, including securities fraud. Investors with information are encouraged to reach out to Danielle Peyton at Pomerantz for further assistance.

The catalyst for this investigation occurred on November 12, 2024, when Quanterix disclosed a serious accounting error in a filing with the U.S. Securities and Exchange Commission (SEC). The company reported that during the closing procedures for its third quarter of 2024, a significant mistake was identified regarding the capitalization of labor and overhead costs dating back to at least 2021. This discovery had far-reaching implications, as it affected the valuation of the company’s inventory significantly.

As a consequence of these revelations, particularly regarding the inaccurate financial reporting over several quarters, the company's Audit Committee, acting on the recommendation of the management and independent accountants from Ernst & Young LLP, concluded that Quanterix's previously issued audited consolidated financial statements from December 31, 2023, and 2022, as well as all interim financial statements from March 31, 2022, through June 30, 2024, are no longer reliable.

Following the news of these discrepancies, Quanterix's stock experienced a major drop, plummeting by $2.77, which is equivalent to an 18.26% decrease, closing at $12.40 per share on November 13, 2024. This sharp decline indicates the market's reaction to the credibility issues surrounding the company and has raised alarms among investors about potential future losses.

Founded over 85 years ago by Abraham L. Pomerantz, the firm has built a reputation as one of the leading entities in corporate, securities, and class-action litigation. Pomerantz has successfully participated in numerous high-profile cases, recovering significant damages for shareholders. It remains dedicated to fighting the rights of victims affected by securities fraud and corporate malfeasance.

In the wake of these recent developments, Quanterix shareholders should remain vigilant and consider seeking guidance from legal professionals regarding their rights and options. The investigation by Pomerantz is just one of many legal implications that could arise from the financial turmoil within Quanterix Corporation, and those impacted are advised to stay informed about the ongoing situation.

For any shareholders affected by these issues, additional information regarding the class action can be accessed through Pomerantz's website or by contacting the firm directly. As this investigation unfolds, more clarity will hopefully emerge on the accountability of Quanterix’s leadership and the future of the company in the competitive biomedical sector.