ATLANTA, July 8, 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 with respect to 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 in the HDE application, the FDA was unlikely to approve the HDE application in its current form, and the approval prospects of the selective cytopheretic device were overstated; (iii) SeaStar underplayed the true extent and severity of the deficiencies in its financial controls and procedures and overstated Defendants’ efforts to correct those deficiencies; (iv) SeaStar accordingly failed to properly account for the classification of certain outstanding warrants and the prepaid forward agreement; (v) as a result, SeaStar likely had to restate one or more of its previously published financial statements; and (vi) accordingly, SeaStar’s post-merger business and financial prospects were overstated.
If you purchased SeaStar shares between 31 October 2022 to 26 March 2024and you have suffered a significant loss on this investment, you should discuss your legal rights by contacting Corey D. Holzer, Esq. at: [email protected]toll free at (888) 508-6832 or visit the company’s website atwww.holzerlaw.com/case/seastar-medical-holding/ to learn more.
The deadline to ask the court to appoint him as lead plaintiff in the case is September 3, 2024.
Holzer & Holzer, LLC, a top-rated securities litigation law firm by ISS for 2021 and 2022, is dedicated to vigorously representing shareholders and investors in nationwide litigation, including shareholder class actions and derivative litigation. Since its founding in 2000, Holzer & Holzer’s attorneys have played a critical role in recovering hundreds of millions of dollars for shareholders who have been victims of corporate fraud and other misconduct. For more information about the firm, visit its website.www.holzerlaw.comand at the firm’s request. Holzer & Holzer, LLC paid for the distribution of this advertisement and Corey Holzer is the attorney responsible for its content.
CONTACT:
Corey Holzer, Esq.
(888) 508-6832 (toll free)
[email protected]
