Robbins LLP Reminds TCPC Investors of Class Action Lawsuit Against BlackRock

The law firm is investigating allegations that BlackRock TCP Capital Corp. misled investors about its business prospects.

Feb. 5, 2026 at 10:47pm

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Robbins LLP has filed a class action lawsuit on behalf of investors who purchased or acquired BlackRock TCP Capital Corp. (TCPC) securities between November 6, 2024 and January 23, 2026. The lawsuit alleges that TCPC failed to disclose to investors that the company's investments were not being properly valued, its portfolio restructuring efforts were not effectively resolving challenged credits, and its net asset value (NAV) was overstated as a result.

Why it matters

The lawsuit highlights growing concerns about transparency and accountability in the business development company (BDC) industry, which raises funds from investors to provide financing to small and mid-size businesses. Investors rely on accurate reporting of a BDC's financial health and portfolio performance, so allegations of misleading disclosures could undermine confidence in the sector.

The details

According to the complaint, TCPC failed to disclose that its investments were not being timely or appropriately valued, its portfolio restructuring efforts were not effectively resolving challenged credits or improving the quality of the portfolio, and as a result, the company's unrealized losses were understated and its NAV was overstated. On January 23, 2026, TCPC disclosed that its NAV per share as of December 31, 2025 was in the range of $7.05 to $7.09, 19% less than reported the prior quarter and 23.4% less than reported the prior year. This news caused TCPC's stock price to fall 12.97% to $5.10 per share.

  • On November 6, 2024, the class period began.
  • On January 23, 2026, TCPC disclosed its Q4 2025 and full-year 2025 financial results.
  • On January 26, 2026, TCPC's stock price fell 12.97% to $5.10 per share.

The players

Robbins LLP

A law firm that is representing investors in the class action lawsuit against BlackRock TCP Capital Corp.

BlackRock TCP Capital Corp.

A business development company that raises funds from investors and uses those funds to make loans to small and midsize businesses as an alternative to bank financing.

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What’s next

Shareholders who wish to serve as lead plaintiff for the class must file their papers with the court by April 6, 2026. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation.

The takeaway

This case highlights the importance of transparency and accurate reporting in the business development company industry, where investors rely on the financial health and portfolio performance of these firms to make investment decisions. The allegations of misleading disclosures by BlackRock TCP Capital Corp. could undermine confidence in the sector and prompt calls for stricter oversight and accountability measures.