The lawsuit targets Netcapital and several of its officers, claiming the firm improperly recognized revenue from consulting agreements tied to entities controlled by John Fanning. According to the complaint, these agreements were either forged or backdated, with Netcapital Advisors failing to provide substantive services. The litigation asserts that these maneuvers rendered the company’s Sarbanes-Oxley Act certifications and broader financial disclosures materially false.
Shareholders who incurred losses have until December 7, 2026, to apply for lead plaintiff status. While the firm operates on a contingency fee basis, participation in a potential recovery does not mandate a formal role as lead plaintiff. Interested parties can contact Peretz Bronstein or Nathan Miller at 917-590-0911 to review the filing.
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