Court dismisses securities class action against TriplePoint Venture Growth BDC without leave to amend

TriplePoint Venture Growth BDC Corp.

On August 7, 2024, the U.S. District Court for N.D. Cal. granted defendants' motion to dismiss the putative class action (Case 3:23-cv-02980).
The complaint alleged violations of federal securities laws during a class period from March 4, 2020 to May 1, 2023.
The Court ruled plaintiff failed to state a valid claim; dismissal is without leave to amend.
The lawsuit had named the company and certain directors and officers, seeking unspecified damages and fees.
The dismissal removes a significant litigation overhang for TPVG.

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