Portnoy Law Firm Files Class Action Lawsuit Against BlackRock TCP Capital Corp.

Lawsuit alleges company misled investors about its financial performance and net asset value.

Feb. 26, 2026 at 4:39pm

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The Portnoy Law Firm has filed a class action lawsuit against BlackRock TCP Capital Corp. on behalf of investors who bought securities between November 6, 2024 and January 23, 2026. The lawsuit alleges that BlackRock TCP made false and misleading statements about the valuation of its investments, the effectiveness of its portfolio restructuring efforts, and its net asset value per share.

Why it matters

This lawsuit highlights concerns about transparency and accountability in the investment management industry. If the allegations are true, BlackRock TCP's actions could have significantly harmed investors who relied on the company's disclosures when making investment decisions.

The details

The lawsuit alleges that BlackRock TCP's net asset value per share was overstated throughout the class period. On February 27, 2025, the company revealed that the number of portfolio companies on non-accrual status had more than doubled and that its NAV had fallen over 22% to $9.23 per share. Then on January 23, 2026, BlackRock TCP disclosed that its actual NAV per share as of December 31, 2025 was in the range of $7.05 to $7.09, 19% less than the prior quarter and 23.4% less than the prior year.

  • The class period covers November 6, 2024 to January 23, 2026.
  • Investors have until April 6, 2026 to file a lead plaintiff motion.
  • On February 27, 2025, BlackRock TCP revealed its NAV had fallen over 22% to $9.23 per share.
  • On January 23, 2026, BlackRock TCP disclosed its actual NAV was $7.05 to $7.09 per share.

The players

Portnoy Law Firm

A law firm representing investors in pursuing claims caused by corporate wrongdoing.

BlackRock TCP Capital Corp.

A business development company that specializes in direct equity and debt investments in middle-market and small businesses.

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What they’re saying

“Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/blackrock-tcp-capital-corp.”

— Lesley F. Portnoy, Attorney (Portnoy Law Firm)

What’s next

The judge will decide on April 6, 2026 whether to allow the case to proceed as a class action lawsuit.

The takeaway

This lawsuit underscores the importance of accurate and transparent financial reporting by investment firms, as investors rely on this information to make informed decisions. The allegations, if proven true, could have significant consequences for BlackRock TCP and its investors.