Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of all purchasers of securities of SeaStar Medical Holding Corporation (NASDAQ: ICU, ICUCW) between October 31, 2022 and March 26, 2024. SeaStar is a medical technology company.
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: The Rosen Law Firm is Investigating the Allegations that SeaStar Medical Holding Corporation (NASDAQ: ICU, ICUCW) Misled Investors Regarding its Business Operations.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) SeaStar and/or Legacy SeaStar had deficient compliance controls and procedures related to the HDE Application; (2) accordingly, there were deficiencies with the HDE Application, the FDA was unlikely to approve the HDE Application in its present form, and the SCD’s regulatory prospects were overstated; (3) the Company had downplayed the true scope and severity of deficiencies in its financial controls and procedures, while overstating defendants’ efforts to remediate the same; (4) accordingly, SeaStar had failed to properly account for the classification of certain outstanding warrants and the Prepaid Forward Agreement; (5) as a result, SeaStar was likely to restate one or more of its previously issued financial statements; (6) accordingly, SeaStar’s post-Merger business and financial prospects were overstated; and (7) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against SeaStar. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by September 6, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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