Bronstein, Gewirtz & Grossman, LLC Investigates Potential Securities Fraud Claims Against Profound Medical Corp.
New York, NY – March 31, 2025
Bronstein, Gewirtz & Grossman, LLC, a leading national securities fraud law firm, is investigating potential claims on behalf of purchasers of Profound Medical Corp. (“Profound” or “the Company”) (NASDAQ: PROF). The investigation concerns whether Profound and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
Background
Profound is a medical device company that specializes in the commercialization and development of innovative solutions in the field of interstitial laser thermotherapy (“ILT”). The Company’s flagship product, TULSA-PRO, is a minimally invasive, outpatient procedure that uses ILT to ablate the prostate gland. Profound has reported significant growth and revenue increases in recent years.
Investigation Allegations
The investigation focuses on whether Profound and its executives have made false and/or misleading statements and/or failed to disclose material adverse information to investors. Specifically, the investigation is examining:
- The accuracy of Profound’s financial statements and reports
- The adequacy of Profound’s internal controls
- The Company’s revenue recognition practices
- The accuracy of Profound’s market size and growth prospects
- The impact of regulatory developments on the Company’s business
Impact on Individual Investors
If it is determined that Profound and its executives have engaged in securities fraud or other unlawful business practices, the Company and the individuals named in the investigation could face significant financial and legal consequences. These consequences may include:
- Monetary damages for investors
- Civil penalties
- Criminal penalties
- Derivative lawsuits
- Regulatory action
Impact on the World
The investigation and potential findings of securities fraud against Profound could have far-reaching implications for the medical device industry and the broader healthcare sector. Some potential impacts include:
- Decreased investor confidence in the sector
- Increased regulatory scrutiny
- Heightened awareness of the importance of accurate financial reporting
- Potential changes to securities laws and regulations
Conclusion
The investigation by Bronstein, Gewirtz & Grossman, LLC into potential securities fraud claims against Profound Medical Corp. is ongoing. The firm encourages investors who purchased Profound securities to obtain additional information and assist the investigation by visiting the firm’s site, bgandg.com/PROF. The potential consequences of the investigation for individual investors and the world at large are significant, and it is essential that all parties stay informed.
As a reminder, this article is for informational purposes only. It is not intended as legal advice. Always consult with a qualified attorney for advice regarding your specific situation.
