SeaStar Medical Holding Corporation
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Case Overview
54 Days Left to Seek Lead Plaintiff
Lead Plaintiff Deadline: | Lead Plaintiff Deadline: 09/06/2024 |
Status: | Status: Investigating |
Company Name: | Company Name: SeaStar Medical Holding Corporation |
Court: | Court: District of Colorado |
Case Number: | Case Number: 1:24cv01873 |
Class Period: | Class Period: 10/31/2022 - 03/26/2024 |
Ticker: | Ticker: ICU |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of Colorado on behalf of those who acquired SeaStar Medical Holding Corporation (“SeaStar” or the “Company”) (NASDAQ: ICU) securities during the period of October 31, 2022 through March 26, 2024, inclusive (“the Class Period”). Investors have until September 6, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that SeaStar made false and/or misleading statements and/or failed to disclose that: (i) SeaStar had deficient compliance controls and procedures related to its HDE Application to the FDA; (ii) accordingly, the FDA was unlikely to approve the HDE Application in its present form; (iii) the Company had downplayed the true scope and severity of deficiencies in its financial controls and procedures, while overstating its 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.
The lawsuit alleges that SeaStar made false and/or misleading statements and/or failed to disclose that: (i) SeaStar had deficient compliance controls and procedures related to its HDE Application to the FDA; (ii) accordingly, the FDA was unlikely to approve the HDE Application in its present form; (iii) the Company had downplayed the true scope and severity of deficiencies in its financial controls and procedures, while overstating its 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.