HTGC Lawsuit Alleges CEO Allegedly Certified Misleading Statements - Hercules Capital Investors Face Losses Following CEO Allegedly Certified Misleading Statements: SueWallSt

Important Information Regarding Section 20(a) Individual Liability Claims Against Hercules Capital Officers

NEW YORK, May 7, 2026 /PRNewswire/ -- SueWallSt alerts investors in Hercules Capital, Inc. (NYSE: HTGC) of a pending securities class action naming two senior officers as individual defendants. Class Period: May 1, 2025 through February 27, 2026. Check if you can recover your investment losses or contact Joseph E. Levi, Esq. at [email protected] | (888) SueWallSt.

HTGC shares fell $1.22 per share, or 7.9%, on February 27, 2026, closing at $14.21 on unusually heavy volume. The Court has set May 19, 2026 as the deadline to apply for lead plaintiff appointment.

The Named Individual Defendants

Scott Bluestein, Chief Executive Officer and Chief Investment Office, and Seth H. Meyer, Chief Financial Officer, are both named as defendants in the action filed in the U.S. District Court for the Northern District of California. The lawsuit asserts that both executives possessed the power and authority to control the contents of Hercules Capital's SEC filings, press releases, and investor presentations throughout the Class Period.

Section 20(a) Control Person Framework

The action contends that Bluestein and Meyer, by virtue of their senior positions, had access to material non-public information about the Company's deal sourcing practices, valuation team staffing, and software debt classification. As alleged, they knew adverse facts had not been disclosed to the investing public while positive representations about the Company's "disciplined underwriting" and "rigorous" origination process were being disseminated.

• Bluestein headed the investment origination team of more than 50 professionals and allegedly oversaw the deal sourcing pipeline described in SEC filings
• Meyer, as CFO, was responsible for the accuracy of financial reporting, including NAV calculations and portfolio fair value determinations
• Both executives had the ability and opportunity to prevent the issuance of allegedly misleading statements or cause them to be corrected
• Both signed or certified quarterly and annual SEC filings throughout the Class Period that described a multistep Board-approved valuation process

Sarbanes-Oxley Certification Obligations

Under Sections 302 and 906 of the Sarbanes-Oxley Act, Bluestein and Meyer each personally certified the accuracy of the Company's quarterly 10-Q filings and the FY25 10-K annual report. These certifications covered the very valuation procedures and deal origination disclosures that the complaint challenges as materially misleading.

"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. When executives personally certify SEC filings describing a rigorous, multistep valuation process, investors are entitled to rely on those representations." -- Joseph E. Levi, Esq.

Speak with an attorney about recovering damages or call (888) SueWallSt.

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SOURCE SueWallSt.com