Kuehn Law, PLLC is investigating whether certain officers and directors of Picard Medical, Inc. breached their fiduciary duties to shareholders amid allegations of a fraudulent stock promotion scheme. The law firm's inquiry follows a federal securities lawsuit claiming the company misrepresented material facts regarding its stock trading activities and risk disclosures. The investigation centers on potential violations that could impact investors who acquired shares before September 2, 2025.

According to the lawsuit, Picard Medical was the subject of a fraudulent stock promotion scheme that utilized social media-based misinformation and impersonated financial professionals. The complaint alleges that insiders and affiliates used offshore or nominee accounts to facilitate the coordinated dumping of shares during a campaign to inflate the stock price. Furthermore, the company is accused of omitting any mention of the false rumors and artificial trading activity driving the stock price in its public statements and risk disclosures.

The allegations highlight significant gaps in corporate governance and transparency, raising concerns about the integrity of the financial reporting provided to investors. The failure to disclose the artificial nature of the trading activity and the involvement of insiders in share dumping are central to the claims of fiduciary breach.

Kuehn Law is urging shareholders who currently own PMI and purchased shares prior to September 2, 2025, to come forward. The firm emphasizes that it pays all case costs and does not charge its investor clients. Shareholders are advised to contact the firm immediately to enforce their rights, as there may be limited time to do so.

Contact Information

Investors wishing to participate in the investigation or seek further information can contact Sophia Anne Silayan via email at sophiaanne@kuehn.law or by calling (833) 672-0814. Additional details are available on the Kuehn Law website regarding the shareholder derivative litigation.

Picard Medical, Inc. has appointed Richard Fang, Ph.D., as its interim Chief Executive Officer and Chairman, effective June 18, 2026. This leadership transition follows the resignation of Patrick NJ Schnegelsberg, who stepped down as CEO and a member of the Board of Directors. The company stated that Schnegelsberg's departure was not due to any disagreement regarding operations, policies, or practices.

Leadership Transition Details

The Board of Directors appointed Fang to the interim role to ensure continuity while a permanent successor is sought. Fang, aged 60, is the current Chairman of the Board and a former CEO, having served in that capacity from September 2021 until July 2023. He has served as a board member since September 2021. The Board expressed gratitude to Schnegelsberg for his contributions during a formative period for the company.

Background and Compensation

Fang is a founder and managing partner of Hunniwell Lake Ventures LLC, a med-tech focused venture capital firm established in 2019. He previously founded Reach Surgical in 2005, a minimally invasive surgical instruments company, where he directed growth and international expansion for 15 years. His tenure there culminated in the company's sale to a private equity buyer. Fang also brings over 20 years of experience in the medical device industry, including time at Johnson & Johnson. He holds an MBA from the University of Cincinnati and a Ph.D. in Physics from Purdue University in Indianapolis.

During his tenure as interim CEO, Fang will receive an annual salary of $400,000. The company noted there are no special arrangements or understandings regarding his selection. Disclosures related to Fang's appointment are incorporated by reference from the company's preliminary Proxy Statement for its 2026 Annual Meeting of Shareholders, filed with the Securities and Exchange Commission on June 12, 2026.