PicS N.V. a/ka PicPay Holdings (NASDAQ: PICS)

This investigation is for anyone who acquired securities in PicS N.V. a/k/a PicPay Holdings (NASDAQ: PICS) prior to March 18, 2026.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by failing to timely warn investors of underperforming loans the Company made.

On March 18, 2026, PicPay released its fourth quarter 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.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in PicS N.V. a/k/a PicPay Holdings (NASDAQ: PICS) prior to March 18, 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.