NETCAPITAL INC (US TRADING VENUE: NCPL)
51 Days left to seek lead plaintiff status.
The complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Over the Class Period, 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.