Securities class action against SeaStar Medical (NASDAQ: ICU) dismissed with prejudice

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

SeaStar Medical Holding Corporation reports that a previously filed federal securities class action against the company and certain executives has been dismissed with prejudice. The lawsuit, filed in 2024, had alleged misstatements or omissions related to the company’s business, operations and a prior financial restatement.

After the parties submitted a stipulation of dismissal on April 21, 2026, the United States District Court for the District of Colorado ordered on April 27, 2026 that the case be dismissed with prejudice. This ruling closes the putative class action without the option for the same claims to be refiled.

Insights

Securities class action over SeaStar’s restatement has been fully dismissed.

The company discloses that a putative class action, Wells v. SeaStar Medical Holding Corporation et al., alleging violations of the Securities Exchange Act of 1934, has been dismissed with prejudice by the District of Colorado after a stipulation filed by the parties.

Claims under Section 10(b), Rule 10b-5 and Section 20(a) can carry meaningful financial and reputational risk, including potential compensatory damages. A dismissal with prejudice ends this particular litigation overhang because the same claims cannot be brought again in this case.

While the disclosure links the allegations to an earlier financial statement restatement, this update strictly concerns litigation status. Any remaining impact for investors will depend on how markets viewed the now‑closed class action versus the company’s underlying operational and financial performance.

8-K Event Classification

Item 8.01 — Other Events

1 item

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Key Figures

Case caption: Wells v. SeaStar Medical Holding Corporation et al. Case number: 1:24-cv-0187 Stipulation filed date: April 21, 2026 +1 more

4 metrics

Case caption Wells v. SeaStar Medical Holding Corporation et al. Putative class action in the District of Colorado

Case number 1:24-cv-0187 United States District Court for the District of Colorado

Stipulation filed date April 21, 2026 Stipulation and Proposed Order of Dismissal with Prejudice

Dismissal order date April 27, 2026 Court ordered case dismissed with prejudice

Key Terms

putative class action, dismissed with prejudice, Section 10(b), Rule 10b-5, +1 more

5 terms

putative class action regulatory

"filed a putative class action complaint in the United States District Court"

A putative class action is a lawsuit brought on behalf of a group of people who allege similar harm, filed before a court has formally approved that group as a legal 'class.' For investors it matters because, if the court later certifies the class, the company could face consolidated claims, larger damages and greater legal and reputational risk—like one small alarm that may turn into a building-wide evacuation if authorities confirm a shared problem.

dismissed with prejudice regulatory

"the Court ordered that the case is dismissed with prejudice"

A court decision that ends a lawsuit permanently and prevents the same claim from being filed again. For investors, a dismissal with prejudice removes a legal cloud over a company’s finances or operations, reducing the risk of future litigation on that issue much like closing a chapter in a book so it can’t be reopened; it can affect a company’s liability estimates, stock risk profile, and investor confidence.

Section 10(b) regulatory

"asserts claims pursuant to the Securities Exchange Act of 1934, including Section 10(b)"

Section 10(b) is a provision of U.S. securities law that outlaws deceptive or manipulative practices in buying or selling stocks and other securities. It matters to investors because it provides a legal foundation for holding people accountable when false or misleading statements, hidden facts, or market manipulation distort prices—like a rule that makes sure everyone plays fair in a marketplace, helping protect the value of investors’ holdings and confidence in the market.

Rule 10b-5 regulatory

"Section 10(b), Rule 10b-5 promulgated thereunder"

A U.S. securities rule that makes it illegal to lie, omit important facts, or use deceptive practices when buying or selling stocks and other securities. Think of it as a sports referee rule that keeps the playing field fair: investors rely on truthful information to decide whether to buy or sell, and violations can lead to lawsuits, fines, or forced returns of profits, which can affect a company’s stock price and investor confidence.

Section 20(a) regulatory

"Rule 10b-5 promulgated thereunder and Section 20(a)"

Section 20(a) is a U.S. securities law rule that can make a person or entity that has the power to control a company legally responsible for securities law violations committed by that company or its officers. Think of it like holding the captain of a ship partly responsible for the crew’s mistakes: investors can seek damages from both the company and those who exercised control, which affects how risks and potential recoveries are assessed.

Understanding 8-K Material Events →

04/28/2026 - 04:04 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 27, 2026

SeaStar Medical Holding Corporation

(Exact name of Registrant as Specified in Its Charter)

Delaware	001-39927	85-3681132
(State or Other Jurisdiction	(Commission File Number)	(IRS Employer
of Incorporation)		Identification No.)
3513 Brighton Blvd,
Suite 410
Denver, Colorado		80216
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: 844 427-8100

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

	Trading
Title of each class	Symbol(s)	Name of each exchange on which registered
Common Stock par value $0.0001 per share	ICU	The Nasdaq Stock Market LLC
Warrants, each whole warrant exercisable for one share of Common Stock for $11.50 per share	ICUCW	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01. Other Events

On July 5, 2024, Forrest A K Wells, a purported stockholder of ours, filed a putative class action complaint in the United States District Court for the District of Colorado, captioned Wells v. SeaStar Medical Holding Corporation et al, Case No. 1:24-cv-0187 (D. Colorado) (the “Class Action”). The Class Action alleges that we, our Chief Executive Officer and former Chief Financial Officer made or caused to be made material misstatements or omissions regarding our business and operations, allegedly culminating in our restatement of our consolidated financial statements, disclosed in a Form 8-K and filed on March 27, 2024. The Class Action asserts claims pursuant to the Securities Exchange Act of 1934, including Section 10(b), Rule 10b-5 promulgated thereunder and Section 20(a). The Class Action seeks to recover, among other remedies, compensatory damages. On April 21, 2026 the parties filed a Stipulation and [Proposed] Order of Dismissal with Prejudice (“Stipulation”). On April 27, 2026 the Court ordered that the case is dismissed with prejudice.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			SeaStar Medical Holding Corporation
		By:	/s/ Eric Schlorff
Date:	April 28, 2026	Name:	Eric Schlorff
		Title:	Chief Executive Officer

Source: View Original Filing on SEC EDGAR

FAQ

What litigation update did SeaStar Medical Holding Corporation (ICU) disclose?

SeaStar Medical reported that a putative federal securities class action against the company and certain executives has been dismissed with prejudice. The case was pending in the District of Colorado and involved alleged misstatements related to its business, operations and an earlier financial restatement.

What was the Wells v. SeaStar Medical Holding Corporation class action about?

The Wells v. SeaStar Medical Holding Corporation case alleged that SeaStar Medical, its CEO and former CFO made material misstatements or omissions about the business and operations. The complaint tied these allegations to a previously disclosed restatement of consolidated financial statements filed in March 2024.

How and when was the SeaStar Medical securities class action resolved?

The parties filed a Stipulation and Proposed Order of Dismissal with Prejudice on April 21, 2026. On April 27, 2026, the United States District Court for the District of Colorado ordered that the case be dismissed with prejudice, fully resolving this particular class action.

What does dismissal with prejudice mean for SeaStar Medical (ICU)?

Dismissal with prejudice means the Wells v. SeaStar Medical class action is permanently closed and cannot be refiled on the same claims. For SeaStar Medical, this ends that specific securities lawsuit, removing the related case as an ongoing legal overhang on the company.

Which securities law provisions were cited in the SeaStar Medical class action?

The complaint asserted claims under the Securities Exchange Act of 1934, including Section 10(b), SEC Rule 10b-5, and Section 20(a). These provisions relate to alleged securities fraud and control person liability, and the suit sought compensatory damages before being dismissed with prejudice.

Filing Exhibits & Attachments

4 documents

Securities class action against SeaStar Medical (NASDAQ: ICU) dismissed with prejudice

Rhea-AI Filing Summary

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