NCPL INVESTORS: Contact Kirby McInerney LLP About the Securities Fraud Lawsuit Filed on Behalf of Netcapital Inc. Shareholders

NEW YORK, Oct. 15, 2026 (GLOBE NEWSWIRE) -- Kirby McInerney LLP reminds investors who purchased Netcapital Inc. (“Netcapital” or the “Company”) (NASDAQ: NCPL) securities to contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below by December 7, 2026, to discuss your rights or interests in the securities fraud class action at no cost.

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What Is The Lawsuit About?

The lawsuit has been filed on behalf of investors who purchased securities during the period of December 15, 2021 through September 3, 2026, inclusive (“the Class Period”). The lawsuit alleges that Netcapital failed to disclose that: (i) Netcapital improperly recognized material revenues from what were, in reality, sham consulting agreements with entities controlled by Defendant John Fanning; (ii) the consulting agreements were backdated and, in some cases, forged, and Netcapital Advisors provided little if any meaningful consulting services; (iii) the Portfolio Company transactions were improperly undisclosed related-party transactions involving John Fanning; and (iv) Netcapital’s certifications pursuant to the Sarbanes-Oxley Act of 2002 were false.

On August 10, 2026, the SEC filed a complaint against Netcapital and individual Defendants John Fanning, Coreen Kraysler, Martin Kay, Paul Riss, and Cecilia Lenk, captioned SEC v. John Fanning, Coreen Kraysler, Martin Kay, Paul Riss, Cecilia Lenk, and Netcapital Inc., Civil Action No. 26-13665 (“SEC Complaint”). The SEC charged Defendants with conducting a fraudulent scheme to overstate Netcapital’s revenue through sham, backdated, and in some cases forged consulting agreements between Netcapital Advisors and at least eleven Portfolio Companies controlled by Fanning. The SEC Complaint stated, “Netcapital improperly recorded in its books and records nearly $14 million in revenue from consulting agreements between Netcapital and supposed customers of Netcapital’s services that were, in fact, controlled by Fanning,” and Netcapital’s “quarterly and annual SEC filings misled investors regarding the related-party nature of the portfolio company consulting agreements.” On this news, the price of Netcapital shares declined by $0.05 per share, or approximately 12.8%, from $0.40 per share on August 10, 2026 to close at $0.35 on August 11, 2026.

On August 17, 2026 the Company filed with the SEC a Current Report on Form 8-K disclosing that Netcapital’s independent registered accounting firm, Fruci & Associates II, PLLC, had resigned, effective immediately. The Company disclosed that Fruci stated it “had determined that it could no longer serve as the Company’s auditor,” in light of the SEC Complaint. On this news the price of Netcapital shares declined by $0.09, or 28.6%, from $0.32 per share on August 17, 2026 to close at $0.23 on August 18, 2026.

On September 3, 2026, Netcapital filed a Current Report on Form 8-K with the SEC disclosing that, on August 27, 2026, Avi Liss had resigned as a member of the Board of Directors, effective immediately. In his resignation letter, Liss stated he was resigning, “in light of the serious allegations recently asserted against the Company and certain current and former officers, directors, and other individuals.” On this news the price of Netcapital shares declined by $0.05 per share, or approximately 8.14%, from $0.63 per share on September 3, 2026 to close at $0.58 on September 4, 2026. Netcapital shares fell a further $0.08 per share, or approximately 13.1% the following day, to close at $0.50 per share on September 8, 2026.

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What Should I Do?

If you purchased or otherwise acquired Netcapital securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

Courts do not consider lead plaintiff applications submitted after the relevant deadline. The lead plaintiff oversees the litigation on behalf of the class and may influence key decisions, including litigation strategy and settlement. Courts regularly appoint individual investors as lead plaintiffs, not only institutions. Learn more about the lead plaintiff process and eligibility requirements here.

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Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found on Kirby McInerney LLP’s website.

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Contacts
Kirby McInerney LLP        
Lauren Molinaro, Esq.
212-699-1171
https://www.kmllp.com
https://securitiesleadplaintiff.com/
investigations@kmllp.com