SeaStar Medical(US:ICU) GlobeNewswire News Room·2024-08-28 16:41Core Viewpoint - A class action securities lawsuit has been filed against SeaStar Medical Holding Corporation, alleging securities fraud that affected investors between October 31, 2022, and March 26, 2024 [1][2]. Summary by Sections Class Action Details - The lawsuit aims to recover losses for investors who were adversely affected by alleged securities fraud during the specified period [1]. - The complaint claims that SeaStar and/or Legacy SeaStar had inadequate compliance controls related to the Humanitarian Device Exemption (HDE) Application, leading to deficiencies that could hinder FDA approval [2]. - It is alleged that the company downplayed the severity of deficiencies in its financial controls and overstated efforts to remediate these issues [2]. - The lawsuit suggests that SeaStar failed to properly account for certain financial instruments, which may lead to restatements of previously issued financial statements [2]. - The company's public statements regarding its business and financial prospects were claimed to be materially false and misleading [2]. Next Steps for Investors - Investors who suffered losses during the relevant timeframe have until September 6, 2024, to request appointment as lead plaintiff [3]. - Participation in the lawsuit does not require serving as a lead plaintiff, and there are no out-of-pocket costs for class members [3]. Firm Background - Levi & Korsinsky has a history of securing significant compensation for shareholders and has been recognized as a top securities litigation firm in the United States [4].