Levi & Korsinsky notifies investors that it has commenced an investigation into Profound Medical Corp. (NASDAQ: PROF) concerning potential violations of the federal securities laws.
Profound disclosed in a filing with the U.S. Securities and Exchange Commission on March 7, 2025, that "the Company identified an error which overstated revenue by $472,000 in the first quarter of 2024." Accordingly, Profound concluded that its quarterly reports for the first three quarters of 2024 should no longer be relied upon and said that the Company "intends to file restated interim financial statements" as soon as practicable. Following this news, Profound's stock price fell over 5% on the same day.
If you suffered a loss on your Profound Medical securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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