INVESTOR ALERT: Securities Class Action Filed Against PicS N.V. – Investors Encouraged to Contact Kirby McInerney LLP
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired PicS N.V. (“PicS” or the “Company”) (NASDAQ:PICS) securities during the period from January 27, 2026 through June 5, 2026.
If you suffered a loss on your PicS investments, you have until August 4, 2026 to request lead plaintiff appointment. Courts do not consider lead plaintiff applications submitted after this deadline. If you choose to take no action, you may remain an absent class member. For more information about the lawsuit:
[CONTACT THE FIRM IF YOU SUFFERED A LOSS]
What Is This Lawsuit About? The lawsuit alleges that (i) PicS had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (ii) as a result of the new procedures PicS had implemented in December 2025, PicS had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (iii) PicS had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (iv) the offering documents for the Company’s January 29, 2026 IPO had materially overstated the quality and ability of PicS’ credit models and user data to inform PicS’ underwriting practices and to allow PicS to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (v) PicS suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS to continue to worsen following the IPO, materially impairing PicS business, operations, and financial results.
