Did you buy PICS Class A common stock on or around January 30, 2026?
Affected PICS Investor Summary
- Who: PicS N.V. (NASDAQ: PICS)
- What: Securities fraud class action lawsuit filed
- Class Period: pursuant and/or traceable to PicS’s initial public offering (IPO) on or about January 30, 2026
- Deadline to Seek Lead Plaintiff Status: August 4, 2026
- Key Lawsuit Allegations: Material misstatements and/or omissions concerning the company’s credit models and user data.
- Investor Action: Contact Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) for recovery options
RADNOR, Pa., June 13, 2026 /PRNewswire/ — Kessler Topaz Meltzer & Check, LLP (www.ktmc.com), a nationally recognized securities litigation law firm, informs investors that a securities fraud class action lawsuit has been filed against PicS N.V. (PicS) (NASDAQ: PICS) on behalf of those who purchased or acquired PicS Class A common stock pursuant and/or traceable to PicS’s January 30, 2026 IPO. The lawsuit is filed in the United States District Court for the Southern District of New York and is captioned FirstFire Global Opportunities Fund, LLC v. PicS N.V., Case No. 1:26-cv-04793 (S.D.N.Y). Investors have until August 4, 2026, to file for lead plaintiff status.
CONTACT KTMC TO DISCUSS YOUR LEGAL RIGHTS:
If you purchased or acquired PicS Class A common stock and have lost money on your investment, you are encouraged to contact KTMC attorney Jonathan Naji, Esq. at:
Phone: (484) 270-1453
Email: info@ktmc.com
Website: https://www.ktmc.com/pics-pics-nv-class-action-lawsuit?utm_source=PR_Newswire&utm_medium=pressrelease&utm_campaign=pics&mktm=PR
There is no cost or obligation to speak with an attorney.
PICS N.V. CLASS ACTION LAWSUIT – COMPLAINT ALLEGATION SUMMARY:
The complaint alleges that PicS’s IPO documents contained materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) 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; (2) 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 Expected Credit Loss (ECL) charge of R$88 million in the three months ended December 31, 2025; (3) 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 IPO documents; (4) the IPO documents had materially overstated the quality and ability of PicS’s credit models and user data to inform the company’s 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; (5) 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; and (6) as a result, Defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
At the time of filing of the complaint, PicS’s stock price had fallen to a low of less than $9 per share, representing a more than 50% decline from the $19 per share IPO price.
WHAT PICS INVESTORS CAN DO NOW:
- File to be lead plaintiff by August 4, 2026.
- Contact KTMC for a free case evaluation. All representation is on a contingency fee basis, there is no cost to you.
- Retain counsel of choice or take no action.
THE LEAD PLAINTIFF PROCESS FOR PICS N.V. INVESTORS:
PicS investors may, no later than August 4, 2026, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check, LLP encourages PicS investors to contact the firm for more information.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP (KTMC):
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs’ Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com. The complaint in this matter was not filed by KTMC.
CONTACT:
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
info@ktmc.com
May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.
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SOURCE Kessler Topaz Meltzer & Check, LLP
