Deadline Alert: Netcapital Inc. Investors Have Until December 7, 2026 to Seek Lead Plaintiff Role in Securities Fraud Class Action, Glancy Prongay Wolke & Rotter LLP Reminds Investors

Class action covers investors who bought Netcapital Inc. securities between December 15, 2021 and September 3, 2026; complaint alleges the company failed to disclose material adverse facts

LOS ANGELES, Oct. 27, 2026 (GLOBE NEWSWIRE) -- Investors in Netcapital Inc. ("Netcapital" or the "Company") (NASDAQ: NCPL) have until December 7, 2026 to ask the Court to appoint them lead plaintiff in a securities fraud class action lawsuit filed on behalf of investors who purchased or otherwise acquired Netcapital Inc. securities between December 15, 2021 and September 3, 2026, inclusive. Glancy Prongay Wolke & Rotter LLP ("Glancy") today reminded investors of the upcoming deadline. The Netcapital Inc. case, Chance v. Netcapital Inc. et al., was filed on October 8, 2026 and is pending in the U.S. District Court District of Massachusetts (Case No. 1:26-cv-14584).

Investors who suffered losses on Netcapital Inc. investments can contact Glancy about the Netcapital Inc. class action to learn about potentially pursuing claims under the federal securities laws before the December 7, 2026 deadline.

Deadline and key dates for Netcapital Inc. investors

Lead plaintiff deadline: December 7, 2026
Class period: December 15, 2021 to September 3, 2026, inclusive
Complaint filed: October 8, 2026
Court: U.S. District Court District of Massachusetts

What happened?

On August 10, 2026, the SEC filed a complaint against Netcapital and certain senior executives alleging, among other things, that Netcapital was involved in a fraudulent scheme to overstate the revenue of Netcapital. Specifically, from approximately October 2021 through January 2024, Netcapital improperly recorded nearly $14 million in revenue from sham consulting agreements which produced no real revenue for Netcapital. The recognition of this revenue inflated Netcapital’s total revenue by approximately 345%. During this period, investors in Netcapital’s public and private securities offerings invested over $25.6 million.

On this news, Netcapital stock fell $0.05 or 12.82%, to close at $0.35 on August 11, 2026, thereby injuring investors.

Then on August 17, 2026, the Netcapital disclosed that its independent registered public accounting firm, Fruci & Associates II, PLLC, had resigned.

On this news, Netcapital stock fell $0.09 or 28.62%, to close at $0.23 on August 18, 2026, thereby further injuring investors.

Finally on September 3, 2026, after market close, Netcapital disclosed that on Avi Liss had resigned as a member of the Board of Directors, and from all committees of the Board, including the Audit Committee, effective immediately. In his resignation letter, Liss stated that he was resigning “in light of the serious allegations recently asserted against the Company and certain current and former officers, directors, and other individuals” in the SEC Complaint.

On this news, Netcapital stock fell $0.05 per share, or 8.15%, to close at $0.58 per share on September 4, 2026. The following trading day, Netcapital stock fell a further $0.08 per share, or 13.15%, to close at $0.50 per share on September 8, 2026, thereby further injuring investors.

What does the Netcapital Inc. complaint allege?

The Netcapital Inc. securities lawsuit alleges that, throughout the class period, defendants made materially false and/or misleading statements and failed to disclose material adverse facts about Netcapital Inc.'s business, operations, and prospects. Specifically, the complaint alleges defendants failed to disclose to investors 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' positive statements about Netcapital Inc.'s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Investors who purchased or otherwise acquired Netcapital Inc. securities during the class period may move the Court no later than December 7, 2026 to request appointment as lead plaintiff in this putative class action lawsuit.

"The complaint against Netcapital Inc. alleges, among other things, that the Company failed to disclose that Over the Class Period, Netcapital improperly recognized material revenues from what were, in reality, sham consulting agreements with entities controlled by Defendant John Fanning. The December 7, 2026 deadline to request appointment as lead plaintiff is approaching, and investors considering that role should act promptly," said Charles H. Linehan, Partner at Glancy Prongay Wolke & Rotter LLP.

What's the next step?

Glancy Prongay Wolke & Rotter LLP is a leading national shareholder rights law firm that can help Netcapital Inc. investors evaluate potential claims to recover their losses. Investors who wish to serve as lead plaintiff in the Netcapital Inc. class action must move the Court by December 7, 2026. To learn more, visit the Netcapital Inc. case page, email shareholders@glancylaw.com, or call 310-201-9150 (toll-free: 888-773-9224).

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

To be a member of the Netcapital Inc. class, you need not take any action at this time. You may retain counsel of your choice or take no action and remain an absent class member. No class has been certified yet in the Netcapital Inc. case.

Frequently Asked Questions

Who is eligible? Investors who purchased or otherwise acquired Netcapital Inc. securities between December 15, 2021 and September 3, 2026 and suffered losses may be members of the proposed class in the Netcapital Inc. shareholder lawsuit.

When is the Netcapital Inc. lead plaintiff deadline? Motions to serve as lead plaintiff in the Netcapital Inc. class action must be filed with the U.S. District Court District of Massachusetts by December 7, 2026.

What if I miss the Netcapital Inc. deadline? After December 7, 2026, investors generally can no longer ask to be appointed lead plaintiff, but Netcapital Inc. investors may still remain class members. Their ability to share in any future recovery does not depend on serving as lead plaintiff.

What is a lead plaintiff? In the Netcapital Inc. class action, the lead plaintiff is the investor, or group of investors, that the court appoints to represent all class members and oversee the case. Under the Private Securities Litigation Reform Act, courts generally presume the movant with the largest financial interest is the most adequate lead plaintiff.

Does it cost anything to contact Glancy or participate in this action? Glancy represents Netcapital Inc. investors on a contingency fee basis, so investors pay no attorneys' fees out of pocket. Any attorneys' fees and litigation expenses are paid only from a recovery, if one is obtained, and are subject to court approval.

Why work with Glancy on the Netcapital Inc. lawsuit? Glancy Prongay Wolke & Rotter LLP is a premier law firm with decades of experience representing investors and consumers in securities litigation and other complex class action litigation. Contact Glancy about the Netcapital Inc. class action. Prior results do not guarantee a similar outcome.

About Glancy Prongay Wolke & Rotter LLP

Glancy was named one of Law360's Securities Groups of the Year and ranked second in total investor recoveries by ISS Securities Class Action Services in 2025.

Glancy's successes have been widely covered by leading news and industry publications, including The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron's, Investor's Business Daily, Forbes, and Money.

Prior results do not guarantee a similar outcome.

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Charles H. Linehan

Glancy Prongay Wolke & Rotter LLP

1925 Century Park East, Suite 2100

Los Angeles, CA 90067

Email: shareholders@glancylaw.com

Telephone: 310-201-9150 | Toll-free: 888-773-9224

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