SAN DIEGO, June 12, 2026 /PRNewswire/ — Shareholder rights law firm Johnson Fistel, PLLP announces that a class action lawsuit has commenced on behalf of investors of PicS N.V. (NASDAQ: PICS). The class action is on behalf of shareholders who purchased or otherwise acquired PicS Class A common stock pursuant and/or traceable to the Company’s January 2026 initial public offering. Investors are hereby notified that they have until August 4, 2026, to move the Court to serve as lead plaintiff in this action.
For more information, submit your information here or contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471. If emailing, please include a phone number. There is no cost or obligation to you.
The PicS N.V. class action lawsuit alleges that defendants in the IPO’s offering documents made false and/or misleading statements and/or failed to disclose that: (i) PicS N.V. 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 N.V. had implemented in December 2025, PicS N.V. 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 N.V. 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 IPO’s offering documents had materially overstated the quality and ability of PicS N.V.’s credit models and user data to inform PicS N.V.’s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (v) PicS N.V. 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 N.V. to continue to worsen following the IPO, materially impairing PicS N.V.’s business, operations, and financial results.
About Johnson Fistel, PLLP
Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder class actions and derivative lawsuits. Johnson Fistel has been selected as one of the Top 10 Plaintiff Law Firms by ISS Securities Class Action Services. In 2024, Johnson Fistel recovered approximately $90,725,000 for aggrieved investors.
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Contact:
Johnson Fistel, PLLP
501 W. Broadway, Suite 800
San Diego, CA 92101
James Baker, Investor Relations – or – Frank J. Johnson, Esq.
(619) 814-4471
jimb@johnsonfistel.com | fjohnson@johnsonfistel.com
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