Lawsuit Filed Against BlackRock TCP Capital Corp. Over Securities Fraud

Glancy Prongay Wolke & Rotter LLP files class action lawsuit on behalf of investors

Feb. 3, 2026 at 7:15pm

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Glancy Prongay Wolke & Rotter LLP has filed a class action lawsuit in the United States District Court for the Central District of California against BlackRock TCP Capital Corp. (NASDAQ: TCPC) and certain of its executives. The lawsuit alleges that the company made materially false and misleading statements about the valuation of its investments, portfolio restructuring efforts, and net asset value (NAV) during the class period from November 6, 2024 to January 23, 2026.

Why it matters

The lawsuit alleges that BlackRock TCP Capital Corp. misled investors about the true financial health of the company, which resulted in significant losses when the truth was revealed. This case highlights the importance of transparency and accurate financial reporting for publicly traded companies, especially those in the investment management industry.

The details

According to the complaint, BlackRock TCP Capital Corp. failed to disclose that: (1) the company's investments were not being properly valued; (2) the company's portfolio restructuring efforts were not effectively resolving challenged credits or improving the quality of the portfolio; (3) as a result, the company's unrealized losses were understated; and (4) the company's NAV was overstated. The lawsuit alleges that these misrepresentations and omissions artificially inflated the company's stock price during the class period.

  • On February 27, 2025, before the market opened, the company issued a press release announcing its Q4 and full-year 2024 financial results, which revealed significant weaknesses in its portfolio.
  • On January 23, 2026, after market hours, BlackRock TCP disclosed that its NAV per share as of December 31, 2025 was in fact 19% less than reported the prior quarter and 23.4% less than reported 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.

A publicly traded investment management company that is the defendant in the class action lawsuit.

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What they’re saying

“If you purchased or otherwise acquired BlackRock securities during the Class Period, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff.”

— Charles Linehan, Attorney, Glancy Prongay Wolke & Rotter LLP (BusinessWire)

What’s next

The judge in the case will decide on whether to certify the class and appoint a lead plaintiff within the next 60 days.

The takeaway

This lawsuit highlights the importance of accurate financial reporting and transparency for publicly traded companies. Investors who suffered losses due to BlackRock TCP Capital Corp.'s alleged misrepresentations may be able to recover their losses through this class action lawsuit.