ICU Investors Have Opportunity to Lead SeaStar Medical Holding Corporation Securities Fraud Lawsuit

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Aug 19, 2024, 23:00 ET

NEW YORK, Aug. 19, 2024 /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of SeaStar Medical Holding Corporation (NASDAQ: ICU, ICUCW) between October 31, 2022 and March 26, 2024, both dates inclusive (the "Class Period"), of the important September 6, 2024 lead plaintiff deadline.

So what: If you purchased SeaStar securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the SeaStar class action, go to https://rosenlegal.com/submit-form/?case_id=27084 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 6, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Details of the case: 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, SeaStar'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.

To join the SeaStar class action, go to https://rosenlegal.com/submit-form/?case_id=27084 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.