Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, is reminding investors that the deadline to move for lead plaintiff in a securities class action lawsuit against TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (“TriplePoint” or the “Company”) and certain other defendants (collectively, “Defendants”) is August 15, 2023.
The action, which was filed in the U.S. District Court for the Northern District of California, asserts claims under §§10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) on behalf of a Class consisting of all persons who purchased or otherwise acquired TriplePoint common stock between March 4, 2020 and May 1, 2023, inclusive (the “Class Period”), and who were damaged thereby (the “Class”).
TriplePoint is a business development company specializing in investments in venture capital-backed companies at the growth stage.
The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that TriplePoint had overstated the strength of its various portfolio companies and loan book, as well as the viability of its overall investment strategy, which once revealed, was likely to have a material negative impact on the Company’s financial positions and/or prospects.
Following the May 2, 2023 release of a report published by Bear Cave that highlighted these and other issues, TriplePoint's stock experienced significant declines, falling, for example, from $11.92 per share on May 1, 2023 to close at $10.73 per share, or nearly 10%, on May 3, 2023.
Lead Plaintiff Deadline
The Lead Plaintiff deadline in this action is August 15, 2023. Any member of the proposed Class may seek to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class.
What You Can Do – CLICK HERE
If you purchased TriplePoint common stock during the Class Period, and suffered damages, realized or unrealized, you are encouraged to contact Scott+Scott attorney Jonathan Zimmerman at (888) 398-9312, or firstname.lastname@example.org, for more information.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, Virginia, California, and Ohio.