Investors Seek to Lead Class Action Against Hercules Capital Executives

Levi & Korsinsky alleges CEO and CFO certified misleading statements about valuation process and deal sourcing

Mar. 30, 2026 at 8:35pm

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Levi & Korsinsky, LLP has filed a securities class action lawsuit against Hercules Capital, Inc. (NYSE: HTGC), naming CEO Scott Bluestein and CFO Seth H. Meyer as individual defendants. The lawsuit alleges that the executives possessed the power and authority to control the contents of Hercules Capital's SEC filings, press releases, and investor presentations, and that they knew adverse facts had not been disclosed to the investing public while positive representations about the company's 'disciplined underwriting' and 'rigorous' origination process were being disseminated.

Why it matters

This case highlights the importance of corporate executives ensuring the accuracy and completeness of their company's public statements, particularly when they personally certify SEC filings under the Sarbanes-Oxley Act. Investors are entitled to rely on these representations, and executives can be held individually liable for alleged securities fraud.

The details

The lawsuit asserts that Bluestein, as the head of the investment origination team, and Meyer, as the CFO responsible for financial reporting and portfolio valuations, had access to material non-public information about Hercules Capital's deal sourcing practices and valuation processes. The complaint alleges that they knew adverse facts had not been disclosed while making positive statements about the company's underwriting and origination procedures.

  • The class period is from May 1, 2025 through February 27, 2026.
  • The court has set May 19, 2026 as the deadline to apply for lead plaintiff appointment.

The players

Scott Bluestein

Chief Executive Officer and Chief Investment Officer of Hercules Capital, Inc.

Seth H. Meyer

Chief Financial Officer of Hercules Capital, Inc.

Levi & Korsinsky, LLP

A nationally recognized leader in shareholder rights litigation, with a team of over 70 professionals and a history of recovering hundreds of millions of dollars for investors.

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What they’re saying

“Corporate officers have a duty to ensure their companies' public statements are accurate and complete. When executives personally certify SEC filings describing a rigorous, multistep valuation process, investors are entitled to rely on those representations.”

— Joseph E. Levi, Attorney, Levi & Korsinsky, LLP

What’s next

The court has set May 19, 2026 as the deadline for investors to apply for lead plaintiff appointment in the class action lawsuit.

The takeaway

This case highlights the importance of corporate transparency and the accountability of executives who certify the accuracy of their company's public disclosures. Investors will be closely watching the outcome of this lawsuit, which could have broader implications for the responsibilities of senior corporate officers.