Pomerantz LLP has initiated legal proceedings against BlackRock TCP Capital Corp. (TCPC), alleging securities fraud and improper business practices related to significant portfolio and valuation discrepancies. The litigation stems from the company's February 2025 disclosure that non-accrual holdings in its portfolio had more than doubled, concurrent with a reported 22% year-over-year decline in net asset value (NAV).
Subsequently, in January 2026, BlackRock TCP Capital revealed that NAV figures had been materially understated, with the actual decline measuring 23.4% compared to previously disclosed figures. This discrepancy between initial and revised valuations forms the basis of the fraud allegations in the class action suit, which seeks to recover losses for affected shareholders during the relevant period.
Investors who experienced losses on their TCPC holdings are advised that the deadline to participate in the class action litigation is April 6, 2026. Those interested in joining the lawsuit are encouraged to review the legal notice and consult with counsel regarding their eligibility and potential claims.