Did You Lose Money Investing in PicS N.V.? Robbins LLP Urges Investors with Significant Losses to Contact the Firm for Information About Their Rights Against PICS

Robbins LLP reminds investors that a securities class action has been filed on behalf of all persons and entities who purchased or otherwise acquired PicS N.V. (NASDAQ: PICS) securities pursuant and/or traceable to the Company's January 30, 2026 initial public offering ("IPO"). The lawsuit alleges that PicS' Registration Statement and Prospectus contained materially false or misleading statements and omitted material information concerning the Company's credit risk management and loan portfolio. Investors who purchased shares in or traceable to the IPO may have legal rights and should be aware of the August 4, 2026 deadline to seek appointment as lead plaintiff.

The complaint alleges that PicS failed to disclose material information in connection with its January 2026 IPO regarding the quality of its credit portfolio and the effectiveness of its credit risk controls. Specifically, the lawsuit alleges that before the IPO: PicS had evaluated its credit assessment procedures in December 2025 and determined that those procedures were deficient and required enhancement; the Company implemented new credit evaluation procedures that resulted in approximately R$590 million in loan exposures being reclassified from Stage 2 to Stage 3, increasing expected credit loss ("ECL") provisions by approximately R$88 million during the fourth quarter of 2025; Stage 3 loan formation had increased to more than 7% during the fourth quarter of 2025, significantly above historical levels; PicS allegedly overstated the effectiveness of its credit models, underwriting practices, and customer data in identifying and managing credit risk; and the Company was allegedly experiencing deteriorating borrower credit quality, increasing defaults, and rising loan impairments associated with its expansion into higher-risk lending products.

The complaint alleges that investors purchasing shares in the IPO were not informed of these material facts.

On March 19, 2026, less than two months after completing its IPO, PicS announced fourth-quarter and full-year 2025 financial results. According to the complaint, the Company disclosed that it had: reclassified approximately R$590 million of loans from Stage 2 to Stage 3; recorded an additional R$88 million in expected credit loss provisions; experienced a 7.1% Stage 3 formation rate, representing a 97% increase from the previous quarter; and implemented significant changes to its credit-loss methodologies during December 2025, including enhanced risk models, improved renegotiation tracking, and stricter policies for classifying non-performing loans.

The complaint further alleges that on June 2, 2026, PicS disclosed that Stage 3 loans had increased to 13% of its total credit portfolio and that delinquent loans continued to rise. Following these disclosures, PicS Class A common stock declined to below $9.00 per share by June 4, 2026, representing a loss of more than 50% from the IPO price of $19.00 per share.

The lawsuit seeks to represent investors who purchased or otherwise acquired PicS N.V. (NASDAQ: PICS) securities pursuant and/or traceable to the Company's January 30, 2026 IPO. If you purchased shares issued in or traceable to the IPO and suffered losses, you may have rights under the federal securities laws.

The lead plaintiff is the investor appointed by the court to represent the interests of the proposed class throughout the litigation. Investors do not need to serve as lead plaintiff to potentially share in any future recovery if the lawsuit is successful. The deadline to seek appointment as lead plaintiff is August 4, 2026.

The lawsuit alleges that PicS' Registration Statement and Prospectus omitted material information regarding deficiencies in the Company's credit evaluation procedures, deteriorating loan quali...