NEW YORK, Oct. 09, 2026 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of all persons or entities who purchased or otherwise acquired Netcapital Inc. (“Netcapital” or the “Company”) (NASDAQ: NCPL) securities between December 15, 2021 and September 3, 2026, inclusive (the “Class Period”).
The Complaint alleges that Defendants failed to disclose to investors that: (1) Netcapital improperly recognized material revenues from what were, in reality, sham consulting agreements with entities controlled by Defendant John Fanning; (2) the consulting agreements were backdated and in some cases forged, and Netcapital Advisors provided little if any meaningful consulting services; (3) the Portfolio Company transactions were improperly undisclosed related-party transactions involving John Fanning; (4) Netcapital’s certifications pursuant to the Sarbanes-Oxley Act of 2002 were false; and (5) as a result, Defendants’ statements about Netcapital’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Investors who purchased or otherwise acquired shares of Netcapital should contact the Firm prior to the December 7, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.
