Securities Fraud Investigation Into PicS N.V. / PicPay Holdings (PICS) Announced – Shareholders Who Lost Money Urged to Contact The Law Offices of Frank R. Cruz

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of PicS N.V., also known as PicPay Holdings (“PicPay” or the “Company”) (NASDAQ: PICS) on behalf of investors concerning the Company’s possible violations of federal securities laws.

IF YOU ARE AN INVESTOR WHO LOST MONEY ON PICS N.V. / PICPAY HOLDINGS (PICS), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING A CLAIM TO RECOVER YOUR LOSS.

What Is the Investigation About?

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, PicPay’s stock price fell $3.56, or 22.5%, to close at $12.27 per share on March 19, 2026, thereby injuring investors.

Contact Us to Participate or Learn More: 

If you purchased PicPay securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:

The Law Offices of Frank R. Cruz
2121 Avenue of the Stars, Suite 800
Century City, California 90067 
Call us at: 310-914-5007
Visit our website at: www.frankcruzlaw.com. 
Email us at: [e-mail] us for updates on Twitter at twitter.com/FRC_LAW.

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

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