Core Viewpoint - The BlackRock TCP Capital Corp. is facing a class action lawsuit for alleged violations of the Securities Exchange Act of 1934, with significant claims regarding the misrepresentation of its net asset value (NAV) and investment valuations during the specified class period [1][3]. Group 1: Class Action Details - The class action lawsuit is titled Burnell v. BlackRock TCP Capital Corp., and it allows purchasers of BlackRock TCP securities from November 6, 2024, to January 23, 2026, to seek appointment as lead plaintiff by April 6, 2026 [1]. - The lawsuit alleges that BlackRock TCP's NAV per share was $11.90 as of December 31, 2023, prior to the class period [2]. Group 2: Allegations Against BlackRock TCP - The lawsuit claims that BlackRock TCP made false or misleading statements regarding the timely valuation of its investments and the effectiveness of its portfolio restructuring efforts [3]. - It is alleged that BlackRock TCP's unrealized losses were understated, leading to an overstatement of its NAV [3]. Group 3: Impact on NAV and Stock Price - On February 27, 2025, BlackRock TCP reported that the number of portfolio companies on non-accrual status had more than doubled, resulting in a NAV decline of over 22% year-over-year to $9.23 per share, which led to a 9.6% drop in stock price [4]. - On January 23, 2026, BlackRock TCP disclosed that its NAV per share was actually between $7.05 and $7.09, representing a 19% decrease from the previous quarter and a 23.4% decrease from the prior year, causing the stock price to fall nearly 13% [5].