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INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Profound Medical Corp. - PROF

1. Pomerantz LLP is investigating Profound for possible securities fraud. 2. Profound overstated revenue by $472,000 in Q1 2024. 3. Restated financial statements will be filed soon by Profound. 4. Profound's stock dropped 5.9% after revealing the revenue error. 5. Past actions by Pomerantz include significant recoveries for class members.

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FAQ

Why Very Bearish?

The disclosure of revenue overstatement and potential fraud investigation significantly undermines investor confidence. Previous instances of such disclosures often led to prolonged stock price declines.

How important is it?

The investigation and restated financials indicate significant risks that could affect stock price and market perception.

Why Long Term?

Ongoing investigations and the need for restated financials suggest a long-term impact on Profound's credibility. Historical cases show recovery can take years after legal proceedings.

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NEW YORK, April 17, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Profound Medical Corp. (“Profound” or the “Company”) (NASDAQ: PROF). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980. The investigation concerns whether Profound and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.  [Click here for information about joining the class action] On March 7, 2025, Profound disclosed in a filing with the U.S. Securities and Exchange Commission 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. On this news, Profound’s stock price fell $0.43 per share, or 5.9%, to close at $6.86 per share on March 7, 2025. Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com. Attorney advertising. Prior results do not guarantee similar outcomes.    CONTACT:Danielle PeytonPomerantz LLPdpeyton@pomlaw.com646-581-9980 ext. 7980

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