SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment TriplePoint Venture Growth BDC Corp. - TPVG

NEW YORK, Aug. 4, 2023

If you are a shareholder who purchased or otherwise TriplePoint securities during the Class Period, you have until August 15, 2023 to ask the Court to appoint you as Lead Plaintiff for the class.  A copy of the Complaint can be obtained at www.pomerantzlaw.com.   To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

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TriplePoint is a business development company specializing in investments in venture capital-backed companies at the growth stage.  It also provides debt financing to venture growth space companies, including growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects.  Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) TriplePoint had overstated the strength of its various portfolio companies and loan book, as well as the viability of its overall investment strategy; (ii) the foregoing, once revealed, was likely to have a material negative impact on the Company's financial position and/or prospects; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

On May 2, 2023, the Bear Cave released a report titled "Problems at TriplePoint Venture Growth BDC (TPVG)" (the "Bear Cave 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."