INVESTOR ALERT: Edelson Lechtzin LLP TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) Shareholders with Substantial Losses to Consider Seeking Leadership in the Securities Fraud Class Action
NEWTOWN, PA, June 19, 2023 — The law firm of Edelson Lechtzin LLP is investigating securities fraud claims on behalf of all purchasers and holders TriplePoint Venture Growth BDC Corp. (“TriplePoint”) (NYSE: TPVG) common stock between March 4, 2020, and May 1, 2023, both dates inclusive (the “Class Period”).
Investors who purchased TriplePoint common stock may move the U.S. District Court for the Northern District of California to appoint them as lead plaintiff, no later than August 15, 2023. Current holders of TriplePoint stock may pursue corporate governance reforms. Please contact Edelson Lechtzin LLP at 844-696-7492 to discuss your investment losses, or by e-mail at [email protected]. A copy of the class action complaint can be viewed HERE.
Background on TriplePoint Venture Growth BDC Corp.
TriplePoint focuses on developing businesses by investing in venture capital-backed companies during their growth stage. They also offer debt financing to companies operating in the venture growth space, such as growth capital loans, secured and customized loans, equipment financings, revolving loans, and direct equity investments.
The Securities Fraud Claims
The complaint alleges, that throughout the Class Period, Defendants made materially false and/or misleading statements regarding the Company’s business, operations, and prospects and/or failed to disclose that: (i) TriplePoint had overstated the strength of its various portfolio companies and loan book, as well as the viability of its overall investment strategy; (ii) the foregoing, once revealed, was likely to have a material negative impact on TriplePoint’s financial position and/or prospects.
The Bear Cave released a report titled “Problems at TriplePoint Venture Growth BDC (TPVG),” on May 2, 2023. It brought attention to major concerns with TriplePoint, claiming that the company is burdened by excessive fees and inadequate management. The report also said that TriplePoint’s loan book is weakened by bankrupt portfolio companies and struggling startups and warned that TriplePoint’s equity might be significantly compromised.
On this news, TriplePoint’s stock price fell $1.19 per share, or 9.98%, over the following two trading sessions, to close at $10.73 per share on May 3, 2023.
For more information, please contact:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 or 215-867-2399 ext. 1
Email: [email protected]
Email: [email protected]
Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices.
This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.