Overview

A class action lawsuit has been filed against BlackRock TCP Capital Corp., (“BlackRock TCP,” or the “Company”) (NASDAQ : TCPC) and certain of the Company’s senior executive officers (collectively, “Defendants”) alleging violations of federal securities laws. The BlackRock TCP lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired BlackRock TCP securities between November 6, 2024, and January 23, 2026, both dates inclusive (the “Class Period”). Investors have until April 6, 2026, to seek appointment as lead plaintiff of the BlackRock TCP class action lawsuit.

BlackRock TCP is a business development company which raises funds from investors and then use those funds to make loans to small and midsize businesses as an alternative to bank financing. BlackRock TCP then seeks to generate returns through a combination of contractual interest payments on its debt investments, origination and similar fees, and, to a lesser extent, equity appreciation. The Company’s typical investments are in middle-market companies, which it generally defines as those with enterprise values between $100 million and $1.5 billion.

The BlackRock TCP lawsuit alleges that Defendants misrepresented the Company’s net asset value (“NAV”), a key financial metric for BlackRock TCP investors that refers to the value of the Company’s underlying assets minus total liabilities.  Specifically, Defendants made false and misleading statements and failed to disclose: (1) the Company’s investments were not being timely and/or appropriately valued; (2) the Company’s efforts at portfolio restructuring were not effectively resolving challenged credits or improving the quality of the portfolio; (3) as a result, the Company’s unrealized losses were understated; (4) as a result, the Company’s NAV was overstated.

The truth started to emerge on February 27, 2025, when BlackRock TCP revealed that the number of portfolio companies on nonaccrual status had more than doubled, and as a result, debt investments on nonaccrual status at cost increased by 289%.Moreover, the Company revealed its NAV had fallen by more than 22%year-over year and total losses, both realized and unrealized, increased 186% year-over year.  On this news, the Company’s stock price fell $0.90, or 9.6%, to close at $8.44 per share on February 27, 2025. 

Despite the negative announcement, Defendants continued to mislead shareholders stating “the vast majority of [the Company’s] portfolio continued to perform well,” and the Company was “working closely with [its] borrowers and sponsors to resolve the portfolio issues.”

The truth fully emerged on January 23, 2026, when BlackRock TCP disclosed disappointing financial results, including that the Company’s NAV per share as of December 31, 2025 was 19% less than reported the prior quarter and 23.4% less than reported the prior year. On this news, BlackRock TCP’s stock price fell $0.76, or nearly 13%, to close at $5.10 per share on January 26, 2026.

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If you purchased or otherwise acquired BlackRock TCP securities between November 6, 2024, and January 23, 2026, and you wish to serve as lead plaintiff in this lawsuit, you are encouraged to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt attorneys Brian O’Mara or Hani Farah by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the BlackRock TCP lawsuit is April 6, 2026.