PicS N.V. 96 Hour Deadline Alert: Kahn Swick & Foti, LLC Reminds Investors With Losses In Excess Of $100,000 of Deadline in Class Action Lawsuit Against PicS N.V. - PICS

NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 4, 2026 to file lead plaintiff applications in a securities class action lawsuit against PicS N.V. (NasdaqGS: PICS) (“PicS” or the “Company”), if they purchased the Company’s Class A common stock in and/or traceable to its January 30, 2026 initial public offering (the “IPO”). This action is pending in the United States District Court for the Southern District of New York.

What You May Do

If you purchased shares of PicS as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 833-538-3615 or via email ([e-mail]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-pics/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by August 4, 2026.

About the Lawsuit

PicS and certain of its executives are charged with failing to disclose material information in the Offering Documents, violating federal securities laws.

The alleged false and misleading statements and omissions include, but are not limited to, that: (i) in December 2025, the Company determined that its credit assessment procedures were deficient and required enhancement; (ii) following implementation of revised procedures, the Company reclassified approximately R$590 million of exposures from Stage 2 to Stage 3, resulting in an incremental ECL charge of R$88 million for the quarter ended December 31, 2025; (iii) the Company experienced an undisclosed Stage 3 formation rate exceeding 7% in the fourth quarter of 2025, materially departing from the historical trends disclosed in the offering documents; (iv) the offering documents materially overstated the effectiveness of PicS N.V.’s credit models, user data, and underwriting and risk-monitoring capabilities; and (v) prior to the IPO, PicS N.V.’s expansion into riskier business lines had led to deteriorating credit quality, increased default and impairment risk, and adverse financial and operational trends that were expected to continue worsening and materially impact the Company’s business and financial results.

The case is FirstFire Global Opportunities Fund, LLC v. PicS N.V., No. 26-cv-04793.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.

TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services

To learn more about KSF, you may visit www.ksfcounsel.com.

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