Class Action Lawsuit Filed Against Netcapital Inc. Following SEC Fraud Charges
Pomerantz LLP has announced a class action lawsuit against Netcapital Inc. (NASDAQ: NCPL) and its executives following allegations of securities fraud. The legal action follows an August 10, 2026, announcement by the U.S. Securities and Exchange Commission (SEC), which charged the company and certain officials with orchestrating a scheme to overstate revenue through forged and backdated consulting agreements. The fraudulent activity allegedly involved Netcapital Advisors and at least eleven portfolio companies controlled by advisory board member John Fanning. Following the SEC's disclosure, Netcapital's stock price experienced a significant decline of approximately 12.8%, closing at $0.3501 on August 11, 2026. Investors seeking to be appointed as lead plaintiffs have until December 7, 2026, to submit their requests to the court.
Topics: Class Action Lawsuit Corporate Misconduct SEC Charges Securities Fraud