Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 3570

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 3570
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 forum provision and the federal forum provision may impose additional litigation costs on stockholders who assert the provision
is not enforceable and may impose more general additional litigation costs in pursuing any such claims, particularly if the stockholders
do not reside in or near the State of Delaware. In addition, these forum selection clauses in the Amended Certificate may limit our stockholders’
ability to bring a claim in a judicial forum that they find favorable for disputes with us or our directors, officers or employees, which
may discourage such lawsuits against us and our directors, officers and employees even though an action, if successful, might benefit
our stockholders. In addition, while the Delaware Supreme Court ruled in March 2020 that federal forum selection provisions purporting
to require claims under the Securities Act be brought in federal court were “facially valid” under Delaware law, there is
uncertainty as to whether other courts will enforce our federal forum provision. If the federal forum provision is found to be unenforceable,
we may incur additional costs associated with resolving such matters. The federal forum provision may also impose additional litigation
costs on stockholders who assert the provision is not enforceable or invalid. The Court of Chancery of the State of Delaware and the
United States District Courts may also reach different judgments or results than would other courts, including courts where a stockholder
considering an action may be located or would otherwise choose to bring the action, and such judgments may be more or less favorable
to us than our stockholders.

Section
27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created by the
Exchange Act or the rules and regulations thereunder. As a result, the exclusive forum provision will not apply to suits brought to enforce
any duty or liability created by the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction. Section
22 of the Securities Act creates concurrent jurisdiction for federal and state courts over all suits brought to enforce any duty or liability
created by the Securities Act or the rules and regulations thereunder. Accordingly, both state and federal courts have jurisdiction to
entertain such claims. As noted above, the Amended Certificate provides that the federal district courts of the United States will be
the exclusive forum for the resolution of any complaint asserting a cause of action under the Securities Act. Due to the concurrent jurisdiction
for federal and state courts created by Section 22 of the Securities Act over all suits brought to enforce any duty or liability created