LegalApr 28, 2026, 04:12 PM
ICU Class Action Lawsuit Dismissed With Prejudice
AI Summary
SeaStar Medical Holding Corp (ICU) announced the dismissal with prejudice of a putative class action lawsuit, "Wells v. SeaStar Medical Holding Corporation et al," filed on July 5, 2024. The lawsuit alleged material misstatements or omissions regarding the company's business and operations, leading to a restatement of consolidated financial statements. The parties filed a Stipulation and Proposed Order of Dismissal on April 21, 2026, and the Court ordered the case dismissed on April 27, 2026.
Key Highlights
- Putative class action lawsuit filed on July 5, 2024, by Forrest A K Wells.
- Alleged material misstatements/omissions regarding business and operations.
- Claims under Securities Exchange Act of 1934, including Section 10(b).
- Sought compensatory damages from ICU, CEO, and former CFO.
- Stipulation for dismissal with prejudice filed on April 21, 2026.
- Court ordered the case dismissed with prejudice on April 27, 2026.