PICS INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against PicS N.V. and Announces Opportunity for Investors with Substantial Losses to Lead the PicS N.V. Class Action Lawsuit

SAN DIEGO, June 5, 2026 /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that purchasers of PicS N.V. (NASDAQ: PICS) Class A common stock in and/or traceable to PicS N.V.'s January 30, 2026 initial public offering (the "IPO"), have until August 4, 2026 to seek appointment as lead plaintiff of the PicS N.V. class action lawsuit. Captioned FirstFire Global Opportunities Fund, LLC v. PicS N.V., No. 26-cv-04793 (S.D.N.Y.), the PicS N.V. class action lawsuit charges PicS N.V. and certain of PicS N.V.'s top executive officers, directors, controlling shareholders, and underwriters of the IPO with violations of the Securities Act of 1933.

If you suffered substantial losses and wish to serve as lead plaintiff of the PicS N.V. class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-pics-n-v-class-action-lawsuit-pics.html

You can also contact attorneys Ken Dolitsky or Michael Albert of Robbins Geller by calling 800/851-7783 or via e-mail at [email protected].

CASE ALLEGATIONS: PicS N.V. operates one of the largest digital banks in Brazil. In the IPO, PicS N.V. sold approximately 22.9 million shares of Class A common stock to the public at $19 per share, generating gross proceeds of $434.3 million.

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.

By June 4, 2026, PicS N.V. Class A common stock fell to a low of less than $9 per share, representing a more than 50% decline from the $19 per share IPO price. The price of PicS N.V. Class A common stock has remained substantially below the IPO price as of the date of the filing of the complaint.

The plaintiff is represented by Robbins Geller, which has extensive experience in prosecuting investor class actions including actions involving financial fraud.  You can view a copy of the complaint by clicking here.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased PicS N.V. Class A common stock in and/or traceable to the IPO to seek appointment as lead plaintiff in the PicS N.V. class action lawsuit.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the PicS N.V. class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the PicS N.V. class action lawsuit.  An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the PicS N.V. class action lawsuit.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation.  Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors.  In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS.  With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig.  Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

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PicS N.V. Class Action Lawsuit

Contact:

          Robbins Geller Rudman & Dowd LLP
          Ken Dolitsky
          Michael Albert
          655 W. Broadway, Suite 1900, San Diego, CA 92101
          800/851-7783
          [email protected] 

SOURCE Robbins Geller Rudman & Dowd LLP