ATLANTA, July 08, 2024 (GLOBE NEWSWIRE) — A shareholder class action lawsuit has been filed against officers of SeaStar Medical Holding Corporation (“SeaStar” or the “Company”) (NASDAQ: ICU or ICUCW). The lawsuit alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information, regarding the Company’s business, operations, and compliance policies, including allegations that: (i) SeaStar and/or Legacy SeaStar had deficient compliance controls and procedures related to the Humanitarian Device Exemption (“HDE”) Application; (ii) accordingly, there were deficiencies with the HDE Application, the FDA was unlikely to approve the HDE Application in its present form, and the Selective Cytopheretic Device’s regulatory prospects were overstated; (iii) SeaStar had downplayed the true scope and severity of deficiencies in its financial controls and procedures, while overstating Defendants’ efforts to remediate the same; (iv) accordingly, SeaStar had failed to properly account for the classification of certain outstanding warrants and the Prepaid Forward Agreement; (v) as a result, SeaStar was likely to restate one or more of its previously issued financial statements; and (vi) accordingly, SeaStar’s post-Merger business and financial prospects were overstated.
If you bought shares of SeaStar between October 31, 2022 through March 26, 2024, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey D. Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at www.holzerlaw.com/case/seastar-medical-holding/ to learn more.
The deadline to ask the court to be appointed lead plaintiff in the case is September 3, 2024.
Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021 and 2022, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.
CONTACT:
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
cholzer@holzerlaw.com
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