NEW YORK, July 14, 2024 (GLOBE NEWSWIRE) — Attorney Advertising – Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Seastar Medical Holding Corp. (“Seastar” or “the Company”) (NASDAQ: ICU; ICUCW) and certain of its officers.
Class definition
This action seeks to recover damages from Defendants for alleged violations of the federal securities laws on behalf of all persons and entities who purchased or otherwise acquired Seastar securities between October 31, 2022 and March 26, 2024, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the Company’s website: www.bgandg.com/ICU.
Case details
The complaint alleges that defendants made materially false or misleading statements and/or failed to disclose material adverse information relating to the Company’s business, operations and compliance policies, including allegations that: (1) SeaStar and/or Legacy SeaStar had deficient compliance controls and procedures with respect to the Humanitarian Device Exemption Application (“HDE”); (2) the HDE Application accordingly contained deficiencies, the FDA was unlikely to approve the HDE Application as presented, and the approval prospects of the Selective Cytopheretic Device were overstated; (3) SeaStar downplayed the true extent and severity of the deficiencies in its financial controls and procedures and overstated defendants’ efforts to correct them; (4) SeaStar accordingly failed to properly consider the classification of certain outstanding warrants and the prepaid forward agreement; (5) SeaStar would likely restate one or more of its previously published financial statements as a result; (6) accordingly, SeaStar’s business and financial prospects following the merger have been overstated.
What’s next?
A class action lawsuit has already been filed. If you would like to review a copy of the lawsuit, you may visit the firm’s website: www.bgandg.com/ICU or you may contact Peretz Bronstein, Esq. or his Client Relations Manager Nathan Miller of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Seastar, you have until September 3, 2024 to request that the court appoint you as lead plaintiff. Your ability to share in any compensation is not dependent on your serving as lead plaintiff.
There are no costs for you
We represent investors in class action lawsuits on a contingency basis, meaning we ask the court to reimburse us for our expenses and attorney fees (usually a percentage of the total award) only if we win.
Why Bronstein, Gewirtz & Grossman
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized law firm representing investors in securities fraud class action lawsuits and shareholder actions involving derivatives trading. Our firm has recovered hundreds of millions of dollars for investors nationwide.
Attorney advertising. Past results do not guarantee similar results.
Contact
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | [email protected]
