BlackRock TCP Capital (US:TCPC) Prnewswire·2026-02-11 14:41Core Viewpoint - The article discusses a securities class action against BlackRock TCP Capital Corp, highlighting allegations of misleading statements and failure to disclose critical financial information, with a deadline for investors to seek lead plaintiff status by April 6, 2026 [1][2]. Financial Performance - BlackRock TCP's portfolio significantly weakened during the 2024 fiscal year, with the number of portfolio companies on non-accrual status more than doubling, leading to a 289% increase in debt investments on non-accrual status at cost, rising from 3.7% to 14.4% of the portfolio [1][2]. - The company's net asset value (NAV) fell by 22.44% year over year to $9.23 per share, while total losses, both realized and unrealized, surged to $194.9 million for the fiscal year, marking a 186% increase year over year, largely due to a $72.3 million net unrealized loss in the fourth quarter [1][2]. - Following the financial disclosures, BlackRock TCP's stock price dropped by $0.90, or 9.64%, to close at $8.44 per share on February 27, 2025, and further fell by $0.76, or 12.97%, to close at $5.10 per share on January 26, 2026, after revealing a NAV per share of $7.05 to $7.09, which was 19% lower than the previous quarter and 23.4% lower than the prior year [1][2]. Legal Proceedings - The complaint alleges that BlackRock TCP and its executives violated federal securities laws by making false or misleading statements and failing to disclose that the company's investments were not being appropriately valued, and that their portfolio restructuring efforts were ineffective [1][2]. - Investors who purchased securities between November 6, 2024, and January 23, 2026, are encouraged to contact Faruqi & Faruqi, LLP to discuss their legal rights and options regarding the class action [1][2].