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TPVG.US
id: 761

TriplePoint Venture Growth BDC (TPVG) Case on Misleading

N.D. California
Court
23-cv-02980
Case number
04 Mar 2020
Class period Start
01 May 2023
Class period End
16 Aug 2023
Lead Plaintiff motion deadline
  • The Bear Cave report alleged significant issues at TriplePoint.
  • $TPVG fell 9.98%, damaging shareholder value.
  • Investors suspect the Company and its Leaders of misleading.
On May 2, 2023, the Bear Cave released a “Problems at TriplePoint Venture Growth BDC (TPVG)” report.  The Bear Cave Report highlighted significant issues at TriplePoint, alleging that “TriplePoint is encumbered by high fees, weak management, and a weaker loan book saddled by portfolio company bankruptcies and upside-down startups,” and asserting that “the Bear Cave believes TriplePoint’s equity may be severely impaired if it has any value at all.”

On this news, $TPVG fell 9.98% over the following two trading sessions, damaging shareholders.

Considering all facts, Investors have reasons to suspect the Company and its Leaders of misleading statements, which led to investment losses when the alleged truth appeared, specifically:
  1. TriplePoint had overstated the strength of its various portfolio companies and loan book, as well as the viability of its overall investment strategy;
  2. the foregoing, once revealed, was likely to have a material negative impact on the Company’s financial position and/or prospects; and
  3. as a result, the Company’s public statements were materially false and misleading at all relevant times.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
02 May 2023
Filing date
16 June 2023
Lead Plaintiff Deadline
16 August 2023
Collecting participants…

Triplepoint Venture Growth BDC Corp

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing ...

    Ticker
    TPVG.US
    ISIN
    US89677Y1001
    CIK
    1580345
    Sector
    Financial Services
    Industry
    Asset Management
    Country
    USA
    Address
    2755 Sand Hill Road, Menlo Park, CA, United States, 94025