BlackRock TCP Capital (US:TCPC) Prnewswire·2026-03-11 13:30Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against BlackRock TCP Capital Corp. for alleged violations of federal securities laws, with a deadline for investors to seek lead plaintiff status set for April 6, 2026 [1][2]. Financial Performance - The company'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, from 3.7% to 14.4% of the portfolio [2]. - BlackRock TCP's net asset value (NAV) fell 22.44% year over year to $9.23 per share, with total losses (realized and unrealized) ballooning to $194,895,042 for the fiscal year, a 186% increase year over year, largely due to a newly added $72.3 million net unrealized loss in the fourth quarter [2]. - Following the financial disclosures, the company's stock price fell by $0.90 (9.64%) to close at $8.44 per share on February 27, 2025, and further dropped by $0.76 (12.97%) to close at $5.10 per share on January 26, 2026, after revealing that the NAV per share was actually in the range of $7.05 to $7.09, which was 19% less than the previous quarter and 23.4% less than the prior year [2]. Legal Proceedings - The complaint alleges that BlackRock TCP and its executives made false and misleading statements regarding the timely valuation of investments, ineffective portfolio restructuring efforts, understated unrealized losses, and overstated NAV, which misled investors about the company's business and prospects [1][2]. - Investors who suffered losses and wish to discuss their legal rights are encouraged to contact Faruqi & Faruqi, LLP, which is also seeking information from whistleblowers, former employees, and shareholders regarding the company's conduct [1][2].