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LOS ANGELES, April 09, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Profound Medical Corp., (“Profound" or the "Company") (NASDAQ:PROF) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/profound-medical-corp. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Profound’s stock price fell $0.43, or 5.9%, to close at $6.86 per share on March 7, 2025, thereby injuring investors. This market decline was triggered by a disclosure on the same day that the Company had “identified an error which overstated revenue by $472,000 in the first quarter of 2024.” Management clarified that correcting this discrepancy resulted in “reduced revenue previously presented” for the first quarter, as well as the year-to-date totals for the second and third quarters of 2024. Consequently, the Company warned that the impacted financial statements “should no longer be relied upon” due to the reporting inaccuracy. The admission of over-reported income and the subsequent need for a restatement led to immediate downward pressure on the share price as shareholders reacted to the audit concerns.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
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