PicS N.V. (NASDAQ: PICS)

This lawsuit is for anyone who acquired securities in PicS N.V. (NASDAQ: PICS) from January 27, 2026 through June 5, 2026.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, in the Prospectus to the Company’s IPO, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to disclose in the Prospectus that many of the loans that the Company made were less collectible than the Company led investors to believe.

On March 19, 2026, PicS released its fourth quarter and full year 2025 financial results and revealed that, as part of the Company’s “annual review of expected credit loss parameters,” it had made several “enhancements” to its Expected Credit Loss (“ECL”) calculations, and “implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3.” As a result, “R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD].” Stage 3 is the Company’s highest risk category for its credit portfolio. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume and continued to trade below the IPO price on the day the plaintiff files this lawsuit.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in PicS N.V. (NASDAQ: PICS) from January 27, 2026 through June 5, 2026 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.