Pomerantz LLP Investigates Claims Against Profound Medical Corp: A Detailed Look
In a recent press release dated March 31, 2025, Pomerantz LLP announced that it is investigating potential securities fraud claims on behalf of investors of Profound Medical Corp. (“Profound” or the “Company”) (NASDAQ: PROF). The law firm is encouraging these investors to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 167, to discuss their legal rights.
Background on Profound Medical Corp.
Profound Medical Corp. is a medical device company based in Toronto, Canada, that specializes in the development and commercialization of minimally invasive, image-guided therapies for the treatment of various conditions. The Company’s flagship product is the TULSA-PRO procedure, a permanent, incision-free ablation therapy designed to treat both the prostate and the surrounding tissue. Profound Medical’s stock has been publicly traded on the NASDAQ since 2018.
Investigations and Allegations
The investigation by Pomerantz LLP follows a series of SEC filings and press releases from Profound Medical Corp. that may have contained misleading or incomplete information regarding the Company’s financial situation, business prospects, and regulatory compliance. Specifically, the law firm points to the following events:
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A December 2024 press release announcing the completion of a financing round, which failed to disclose certain material facts about the terms and conditions of the offering.
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An SEC filing in January 2025, which allegedly contained misstatements or omissions regarding the Company’s revenue and cash flow projections.
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A February 2025 press release announcing the receipt of FDA clearance for the TULSA-PRO procedure, which may have been premature and lacked sufficient detail regarding the regulatory approval process.
Impact on Individual Investors
If the allegations against Profound Medical Corp. are proven true, investors who purchased the Company’s stock during the relevant period may have suffered significant financial losses. The Securities Act of 1933 and the Securities Exchange Act of 1934 protect investors by requiring publicly traded companies to provide accurate and complete information about their financial condition and business operations. Failure to do so can result in securities fraud claims.
Global Implications
While the investigation primarily affects Profound Medical Corp. and its investors, it also highlights the importance of transparency and accuracy in corporate disclosures. The securities industry plays a crucial role in the global economy, and maintaining trust between companies and their shareholders is essential for long-term growth and stability. As such, any developments related to securities fraud investigations or regulatory compliance can have far-reaching implications.
Conclusion
The investigation by Pomerantz LLP into potential securities fraud claims against Profound Medical Corp. serves as a reminder of the importance of accurate and complete corporate disclosures. As investors, it is crucial that we remain informed and vigilant, especially when it comes to our financial investments. The outcome of this investigation could have significant implications not only for Profound Medical Corp. and its investors but also for the broader securities industry and the global economy as a whole.
If you have invested in Profound Medical Corp. and believe you may be affected by these allegations, we encourage you to contact Danielle Peyton at Pomerantz LLP to discuss your legal rights.
