Summary by Moomoo AI
On July 5, 2024, SeaStar Medical Holding Corporation, a Delaware-based company, was named as a defendant in a class action lawsuit filed by Forrest A K Wells, a purported shareholder. The lawsuit, filed in the United States District Court for the State of Colorado, alleges that SeaStar Medical and its management made material misstatements and omissions about the company's business operations and FDA approval processes for its product candidates. These allegations follow a restatement of the company's consolidated financial statements, which was disclosed in a Form 8-K filing on March 27, 2024. The lawsuit asserts claims under Section 10(b) and Section 20(a) of the Exchange Act, seeking compensatory and other damages. SeaStar Medical has announced its intention to vigorously defend against the claims. The company's common stock and warrants are listed on The Nasdaq Stock Market under the symbols ICU and ICUCW, respectively.
