The SEC complaint, filed in Boston federal court, centers on claims that Netcapital improperly recorded nearly $14 million in revenue. These funds allegedly stemmed from consulting agreements linked to John Fanning, a co-founder of Napster who helped establish the Netcapital brand. The regulatory action, publicized on August 10, 2026, triggered a sharp sell-off the following day as investors reacted to the fraud charges.
Rosen Law is now organizing a prospective class action to recover losses for those who held securities during the period in question. The firm operates on a contingency basis, meaning investors can participate without upfront legal costs. Shareholders seeking to join the action or obtain further details are directed to the firm’s website or can reach out to attorney Phillip Kim directly.
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