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NCPL INVESTOR ALERT: Class Action Lawsuit Filed on Behalf of Netcapital Inc. Investors – Holzer & Holzer, LLC Encourages Investors With Losses to Contact the Firm

GlobeNewswire

A shareholder class action lawsuit has been filed against Netcapital Inc. (“Netcapital”) (NASDAQ: NCPL). The lawsuit alleges that Defendants made false and misleading statements and/or failed to disclose material adverse facts, including allegations 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. 

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