{"success":true,"data":{"pressRelease":{"id":"165866","rtpr_id":"nBw6MTYgza-20261010","ticker":"NCPL","exchange":"NASDAQ","all_tickers":["NCPL"],"title":"NCPL Investors Have Opportunity to Lead Netcapital Inc. Securities Fraud Lawsuit with SBS Law","author":"Business Wire","published_at":"2026-10-10T18:59:00.107Z","article_body":"NCPL Investors Have Opportunity to Lead Netcapital Inc. Securities Fraud\nLawsuit with SBS Law\n\nSchall, Brown & Schwartz LLP\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fschallfirm.com%2F&esheet=54619559&newsitemid=20261010545991&lan=en-US&anchor=Schall%2C+Brown+%26+Schwartz+LLP&index=1&md5=4e292d28062baf86dfee19e44cf5d8e5)\n(“SBS”), a national shareholder rights litigation firm, reminds investors\nof a class action lawsuit against Netcapital Inc. (“Netcapital” or “the\nCompany”) (NASDAQ: NCPL\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ffinance.yahoo.com%2Fquote%2FKGC&esheet=54619559&newsitemid=20261010545991&lan=en-US&anchor=NCPL&index=2&md5=2e7201ca37aae8b34cb59b3aee2bf8d2)\n) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934\nand Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange\nCommission.\n\nShareholders who purchased shares of NCPL during the class period listed are\nencouraged to contact the firm regarding possible lead plaintiff appointments.\nAppointment as lead plaintiff is not required to partake in any recovery.\n\nCLASS PERIOD: December 15, 2021 to September 3, 2026\n\nDEADLINE: December 7, 2026\n\nIf you are a shareholder who suffered a loss, click here to participate\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fschallfirm.com%2Fcases%2Fnetcapital-inc%2F&esheet=54619559&newsitemid=20261010545991&lan=en-US&anchor=click+here+to+participate&index=3&md5=39f9a6a6f7461ff0786ef68a9db66ea3)\n.\n\nCASE DETAILS: According to the Complaint, the Company made false and\nmisleading statements to the market. Netcapital improperly recognized revenue\nfrom consulting projects with entities controlled by an insider. The\nCompany’s sham consulting agreements were backdated and/or forged in some\ncases, as it provided no meaningful consulting activity. Based on these facts,\nthe Company’s public statements were false and materially misleading\nthroughout the class period. When the market learned the truth about\nNetcapital, investors suffered damages.\n\nWe also encourage you to contact Brian Schall or David Schwartz of Schall,\nBrown & Schwartz LLP, 2049 Century Park East, Suite 2460, Los Angeles, CA\n90067, at 310-301-3335, to discuss your rights free of charge. You can also\nreach us through the firm's website at www.schallfirm.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fpr.report%2FmIwBkOrU&esheet=54619559&newsitemid=20261010545991&lan=en-US&anchor=www.schallfirm.com&index=4&md5=d88c5c3b4ec83c4d6738b27fe330e3cb)\n, or by email at david@schallfirm.com (mailto:david@schallfirm.com) .\n\nThe class, in this case, has not yet been certified, and until certification\noccurs, you are not represented by an attorney. If you choose to take no\naction, you can remain an absent class member.\n\nJoin the case\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fschallfirm.com%2Fcases%2Fnetcapital-inc%2F&esheet=54619559&newsitemid=20261010545991&lan=en-US&anchor=Join+the+case&index=5&md5=f05554e3ed5b4d7aead0fdbf16fa8ba1)\nto recover your losses\n\nWHY SBS? Schall, Brown & Schwartz LLP represents investors around the\nworld and specializes in securities class action lawsuits and shareholder\nrights litigation. Bringing together the extensive experience and diverse\nskillsets of founding partners Brian Schall, Andrew Brown, and David Schwartz,\nSBS is dedicated to aggressively advocating for every investor.\n\nThis press release may be considered Attorney Advertising in some\njurisdictions under the applicable law and rules of ethics.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261010545991/en/\n(https://www.businesswire.com/news/home/20261010545991/en/)\n\nSchall, Brown & Schwartz LLP\nBrian Schall, Esq.,\nAndrew Brown, Esq.,\nDavid Schwartz, Esq.,\nwww.schallfirm.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.schallfirm.com&esheet=54619559&newsitemid=20261010545991&lan=en-US&anchor=www.schallfirm.com&index=6&md5=67150f28ebd480fb0c5840e597b1334c)\n\nOffice: 310-301-3335\ninfo@schallfirm.com (mailto:info@schallfirm.com)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw6MTYgza-20261010","title":"NCPL Investors Have Opportunity to Lead Netcapital Inc. Securities Fraud Lawsuit with SBS Law","author":"Business Wire","ticker":"NCPL","created":"2026-10-10T18:59:00.107Z","tickers":["NCPL"],"exchange":"NASDAQ","article_body":"NCPL Investors Have Opportunity to Lead Netcapital Inc. Securities Fraud\nLawsuit with SBS Law\n\nSchall, Brown & Schwartz LLP\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fschallfirm.com%2F&esheet=54619559&newsitemid=20261010545991&lan=en-US&anchor=Schall%2C+Brown+%26+Schwartz+LLP&index=1&md5=4e292d28062baf86dfee19e44cf5d8e5)\n(“SBS”), a national shareholder rights litigation firm, reminds investors\nof a class action lawsuit against Netcapital Inc. (“Netcapital” or “the\nCompany”) (NASDAQ: NCPL\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ffinance.yahoo.com%2Fquote%2FKGC&esheet=54619559&newsitemid=20261010545991&lan=en-US&anchor=NCPL&index=2&md5=2e7201ca37aae8b34cb59b3aee2bf8d2)\n) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934\nand Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange\nCommission.\n\nShareholders who purchased shares of NCPL during the class period listed are\nencouraged to contact the firm regarding possible lead plaintiff appointments.\nAppointment as lead plaintiff is not required to partake in any recovery.\n\nCLASS PERIOD: December 15, 2021 to September 3, 2026\n\nDEADLINE: December 7, 2026\n\nIf you are a shareholder who suffered a loss, click here to participate\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fschallfirm.com%2Fcases%2Fnetcapital-inc%2F&esheet=54619559&newsitemid=20261010545991&lan=en-US&anchor=click+here+to+participate&index=3&md5=39f9a6a6f7461ff0786ef68a9db66ea3)\n.\n\nCASE DETAILS: According to the Complaint, the Company made false and\nmisleading statements to the market. Netcapital improperly recognized revenue\nfrom consulting projects with entities controlled by an insider. The\nCompany’s sham consulting agreements were backdated and/or forged in some\ncases, as it provided no meaningful consulting activity. Based on these facts,\nthe Company’s public statements were false and materially misleading\nthroughout the class period. When the market learned the truth about\nNetcapital, investors suffered damages.\n\nWe also encourage you to contact Brian Schall or David Schwartz of Schall,\nBrown & Schwartz LLP, 2049 Century Park East, Suite 2460, Los Angeles, CA\n90067, at 310-301-3335, to discuss your rights free of charge. You can also\nreach us through the firm's website at www.schallfirm.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fpr.report%2FmIwBkOrU&esheet=54619559&newsitemid=20261010545991&lan=en-US&anchor=www.schallfirm.com&index=4&md5=d88c5c3b4ec83c4d6738b27fe330e3cb)\n, or by email at david@schallfirm.com (mailto:david@schallfirm.com) .\n\nThe class, in this case, has not yet been certified, and until certification\noccurs, you are not represented by an attorney. If you choose to take no\naction, you can remain an absent class member.\n\nJoin the case\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fschallfirm.com%2Fcases%2Fnetcapital-inc%2F&esheet=54619559&newsitemid=20261010545991&lan=en-US&anchor=Join+the+case&index=5&md5=f05554e3ed5b4d7aead0fdbf16fa8ba1)\nto recover your losses\n\nWHY SBS? Schall, Brown & Schwartz LLP represents investors around the\nworld and specializes in securities class action lawsuits and shareholder\nrights litigation. Bringing together the extensive experience and diverse\nskillsets of founding partners Brian Schall, Andrew Brown, and David Schwartz,\nSBS is dedicated to aggressively advocating for every investor.\n\nThis press release may be considered Attorney Advertising in some\njurisdictions under the applicable law and rules of ethics.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261010545991/en/\n(https://www.businesswire.com/news/home/20261010545991/en/)\n\nSchall, Brown & Schwartz LLP\nBrian Schall, Esq.,\nAndrew Brown, Esq.,\nDavid Schwartz, Esq.,\nwww.schallfirm.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.schallfirm.com&esheet=54619559&newsitemid=20261010545991&lan=en-US&anchor=www.schallfirm.com&index=6&md5=67150f28ebd480fb0c5840e597b1334c)\n\nOffice: 310-301-3335\ninfo@schallfirm.com (mailto:info@schallfirm.com)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-10-10T18:59:00.144323892Z","server_sent_at_ms":1791658740144},"received_at":"2026-10-10T18:59:00.195Z","source_url":"https://www.businesswire.com/news/home/20261010545991/en/"},"analysis":{"id":"154249","press_release_id":"165866","analysis_json":{"industry":{"label":"Financial Services & Infrastructure","sector":"Financials"},"redFlags":["alleged improper revenue recognition from insider-controlled entities","alleged backdated and/or forged consulting agreements","active securities fraud class action spanning Dec 2021 - Sep 2026"],"eventType":"legal_litigation","narrative":"Schall, Brown & Schwartz LLP issued a solicitation reminding NCPL investors of a securities fraud class action and a December 7, 2026 lead-plaintiff deadline.\n\nThe complaint alleges Netcapital improperly recognized revenue from consulting projects with insider-controlled entities, with some agreements allegedly backdated or forged.\n\nThis is plaintiff-firm marketing rather than a new issuer disclosure; however, the underlying fraud allegations against Netcapital's revenue recognition are substantively serious for the company.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Plaintiff-firm solicitation -- suppress, but monitor NCPL for issuer-side disclosures on the alleged revenue-recognition fraud."},"keyFigures":{"customDimensions":{"class_period_end":"September 3, 2026","class_period_start":"December 15, 2021","lead_plaintiff_deadline":"December 7, 2026"}},"quotedText":"Netcapital improperly recognized revenue from consulting projects with entities controlled by an insider.","namedEntities":{"people":[{"name":"Brian Schall","role":"founding partner, Schall, Brown & Schwartz LLP"},{"name":"Andrew Brown","role":"founding partner, Schall, Brown & Schwartz LLP"},{"name":"David Schwartz","role":"founding partner, Schall, Brown & Schwartz LLP"}],"products":[],"companies":[{"name":"Netcapital Inc.","ticker":"NCPL","relationship":"defendant/issuer"},{"name":"Schall, Brown & Schwartz LLP","relationship":"plaintiff law firm"},{"name":"U.S. Securities and Exchange Commission","relationship":"regulator"}],"dollarAmounts":[]},"materialImpact":{"score":1,"reasoning":"Plaintiff law-firm solicitation issued by Schall, Brown & Schwartz LLP seeking lead-plaintiff candidates. No class certification or settlement; the underlying fraud allegations are serious but this release is law-firm marketing."},"tickerRelevance":{"others":[],"primary":"NCPL"},"globalImportance":15,"audienceRelevance":10,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"event_type":"legal_litigation","event_type_secondary":null,"sentiment":"neutral","material_impact_score":1,"narrative":"Schall, Brown & Schwartz LLP issued a solicitation reminding NCPL investors of a securities fraud class action and a December 7, 2026 lead-plaintiff deadline.\n\nThe complaint alleges Netcapital improperly recognized revenue from consulting projects with insider-controlled entities, with some agreements allegedly backdated or forged.\n\nThis is plaintiff-firm marketing rather than a new issuer disclosure; however, the underlying fraud allegations against Netcapital's revenue recognition are substantively serious for the company.","key_figures":{"customDimensions":{"class_period_end":"September 3, 2026","class_period_start":"December 15, 2021","lead_plaintiff_deadline":"December 7, 2026"}},"named_entities":{"people":[{"name":"Brian Schall","role":"founding partner, Schall, Brown & Schwartz LLP"},{"name":"Andrew Brown","role":"founding partner, Schall, Brown & Schwartz LLP"},{"name":"David Schwartz","role":"founding partner, Schall, Brown & Schwartz LLP"}],"products":[],"companies":[{"name":"Netcapital Inc.","ticker":"NCPL","relationship":"defendant/issuer"},{"name":"Schall, Brown & Schwartz LLP","relationship":"plaintiff law firm"},{"name":"U.S. Securities and Exchange Commission","relationship":"regulator"}],"dollarAmounts":[]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-10T18:59:04.395Z","global_importance":15,"audience_relevance":10,"importance_components":{"tickerTier":"micro-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"durationMs":4179,"modelName":"glm-5.3-flashx"}}