Investigation Launched by Pomerantz LLP Against Profound Medical Corp.:
New York, NY – April 14, 2025 – Pomerantz LLP, a renowned securities law firm, is investigating potential claims on behalf of investors of Profound Medical Corp. (“Profound” or the “Company”) (NASDAQ: PROF). The investigation concerns allegations that Profound and certain of its officers and/or directors may have engaged in securities fraud or made false and/or misleading statements to the market.
Background:
Profound Medical Corp. is a medical device company that specializes in the commercialization and development of therapeutic applications of its TULSA-PRO transurethral ultrasound ablation system. This system is designed to provide targeted ablation of the prostate tissue in men with localized prostate cancer.
Allegations:
The investigation is focused on certain statements made by Profound regarding its business, operations, and financial condition. Specifically, there are concerns that the Company may have downplayed the risks associated with its TULSA-PRO system and overstated the potential market size and commercial prospects.
Impact on Individual Investors:
If it is determined that Profound and its executives have made false or misleading statements to the market, individual investors may be able to recover their losses through securities class action litigation. It is important for any investors who purchased Profound securities during the relevant period to contact their financial advisor or legal counsel for more information.
Impact on the World:
The potential fallout from this investigation could extend beyond Profound and its investors. The allegations of securities fraud could undermine investor confidence in the medical device industry as a whole, potentially leading to increased regulatory scrutiny and decreased investment in the sector. Moreover, if it is found that Profound made misleading statements regarding the safety and efficacy of its TULSA-PRO system, it could have broader implications for the use of similar technologies in the treatment of other medical conditions.
Conclusion:
The investigation into Profound Medical Corp. by Pomerantz LLP is a significant development for the Company and its investors. The allegations of securities fraud and misleading statements could result in significant financial losses for those who purchased Profound securities during the relevant period. Moreover, the potential impact on the medical device industry and the broader implications for the use of similar technologies could be far-reaching.
As the investigation unfolds, it is essential that investors stay informed and seek the advice of their financial advisors or legal counsel. At the same time, it is important to remember that an investigation is not a definitive finding of wrongdoing, and the outcome of the investigation could vary significantly.
Regardless of the outcome, this investigation serves as a reminder of the importance of transparency and accuracy in the communications of publicly-traded companies. It also highlights the need for investors to carefully evaluate the information they receive from companies and the potential risks associated with their investments.
- Profound Medical Corp. is under investigation by Pomerantz LLP for potential securities fraud.
- Allegations include downplaying risks and overstating commercial prospects.
- Individual investors who purchased Profound securities during the relevant period may be able to recover losses.
- Impact on the medical device industry and use of similar technologies could be significant.
- Stay informed and seek advice from financial advisors or legal counsel.
