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Source document· April 10, 2026

INVESTOR NOTICE: Hercules Capital (HTGC) Investors with Substantial Losses Have Opportunity to Lead Investor Class Action– Hagens Berman

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INVESTOR NOTICE: Hercules Capital (HTGC) Investors with Substantial Losses Have Opportunity to Lead Investor Class Action– Hagens Berman SAN FRANCISCO, April 10, 2026 (GLOBE NEWSWIRE) -- Hercules Capital (NYSE: HTGC) faces a securities class action lawsuit which seeks to represent investors who purchased or otherwise a…

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According to a former Hercules analyst who worked on deal sourcing, the company's deal sourcing process essentially amounted to 'go on the website for Google Ventures and just see what they invest in and just copy it'
60% confidence
About 35% of the value of Hercules' loan portfolio is software-exposed, and despite billions worth of such debt across the industry falling into distressed territory, Hercules still marks its software book at 100 cents on the dollar
60% confidence
A growing share of Hercules' income is 'phantom' because of the company's increasing usage of payment-in-kind (PIK) loans to enable its borrowers to pay interest by adding to the principal of their debt rather than paying interest on their debt
60% confidence
Hercules has assured investors about the robust origination process for sourcing potential investments and the effectiveness of its due diligence process prior to underwriting its investments
60% confidence
The complaint alleges that Hercules overstated the due diligence with which it conducted its deal sourcing and loan origination process, overstated the due diligence with which it conducted its portfolio valuation process, and reported misclassified portfolio investments
60% confidence
A former member of Hercules' finance team provided information raising flags about the company's valuation process because, unlike other BDCs, the team was small and overstretched with few checks in place
60% confidence
As a result of overstated due diligence and misclassified portfolio investments, Hercules overstated or misrepresented its portfolio valuations and its net asset value (NAV)
60% confidence
We're investigating Hunterbrook's allegations and, if true, whether Hercules misled investors about its sourcing, underwriting, marks, PIKs, and, ultimately its NAV
60% confidence