Glancy Prongay Wolke & Rotter LLP Files Securities Fraud Lawsuit Against BlackRock TCP Capital Corp.

Lawsuit alleges company misled investors about portfolio performance and net asset value

Feb. 3, 2026 at 8:15pm

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Glancy Prongay Wolke & Rotter LLP has filed a class action lawsuit against BlackRock TCP Capital Corp. (NASDAQ: TCPC) on behalf of investors who purchased the company's securities between November 6, 2024 and January 23, 2026. The lawsuit alleges that BlackRock made materially false and misleading statements about the performance of its investment portfolio and the accuracy of its net asset value (NAV) reporting.

Why it matters

The lawsuit highlights growing concerns about transparency and accountability in the investment management industry. Investors rely on accurate financial reporting to make informed decisions, and allegations of misleading statements could undermine trust in the market.

The details

The lawsuit alleges that BlackRock failed to disclose that its investments were not being properly valued, its portfolio restructuring efforts were not effectively resolving troubled credits, and its unrealized losses were understated, resulting in an overstated NAV. This led to a significant drop in the company's stock price when the true financial condition was revealed.

  • On February 27, 2025, BlackRock reported a 22.44% year-over-year decline in NAV to $9.23 per share.
  • On January 23, 2026, BlackRock disclosed its NAV was actually in the range of $7.05 to $7.09 per share, 19% less than the prior quarter and 23.4% less than the prior year.

The players

Glancy Prongay Wolke & Rotter LLP

A law firm that has filed a class action lawsuit against BlackRock TCP Capital Corp. on behalf of investors.

BlackRock TCP Capital Corp.

An investment management company that is the subject of the securities fraud lawsuit.

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What they’re saying

“Investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action.”

— Charles Linehan, Attorney, Glancy Prongay Wolke & Rotter LLP

What’s next

The judge will decide within 60 days whether to appoint a lead plaintiff in the class action lawsuit.

The takeaway

This case highlights the importance of transparent and accurate financial reporting by investment firms, as misleading statements can have significant consequences for investors. It also underscores the role of shareholder lawsuits in holding companies accountable for alleged securities fraud.