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Shareholder Derivative Claims
−Removed: 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 State of Colorado, captioned Wells v.
+Added: 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.
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On March 4, 2025, the Plaintiff filed an amended complaint.
−Removed: We intend to vigorously defend the action.
+Added: The Defendants moved to dismiss the complaint.
+Added: The Defendants’ motion to dismiss the complaint was referred to United States District Court Magistrate Judge Timothy P.
+Added: On February 27, 2026, Magistrate Judge O’Hara issued a written report and recommendation to United States District Judge Regina M.
+Added: Rodriguez that the complaint be dismissed with leave to amend (“R&R”).
+Added: Lead Plaintiff filed an objection to the R&R on March 13, 2026, and Defendants are expected to respond on March 27, 2026.
+Added: We cannot predict whether the Magistrate Judge’s R&R will be adopted, modified or rejected by the District Court, or whether the Lead Plaintiff will amend the complaint.
On December 13, 2024, Jose Lazo, a purported stockholder of ours, filed a putative stockholder derivative action complaint captioned Lazo v.
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On January 30, 2025, upon joint motion of the parties, the Court stayed the Derivative Action pending the Court’s resolution of an anticipated motion to dismiss to be filed in the Class Action.
−Removed: The Derivative Action alleges, among other things, that the our Chief Executive Officer, former Chief Financial Officer, and certain of our current and former directors violated Section 14(a) of the Exchange Act, breached fiduciary
−Removed: duties and were unjustly enriched by making or allowing to be made purportedly false and misleading statements regarding our prospects for success in obtaining FDA approval for our SCD.
−Removed: The Derivative Action further alleges that there were purported deficiencies in our internal financial controls and procedures and improper accounting for classification of certain financial instruments leading to our restatement of previously issued financial statements.
+Added: The Derivative Action alleges, among other things, that our Chief Executive Officer, former Chief Financial Officer, and certain of the Company's current and former directors violated Section 14(a) of the Exchange Act, breached fiduciary duties and were unjustly enriched by making or allowing to be made purportedly false and misleading statements regarding our prospects for success in obtaining FDA approval for our SCD.
+Added: The Derivative Action further alleges that there were purported deficiencies in the Company's internal financial controls and procedures and improper accounting for classification of certain financial instruments leading to our restatement of previously issued financial statements.
The Derivative Action also asserts claims under Section 10(b) and 21D of the Exchange Act against our Chief Executive Officer and former Chief Financial Officer.
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Additional stockholders may file substantially similar complaints in the future.
−Removed: We will not make separate disclosure of such complaints unless they are materially different than the Derivative Action.
+Added: The Company will not make separate disclosure of such complaints unless they are materially different than the Derivative Action.
Mine Safety Disclosures.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.