PICS N.V. INVESTOR ALERT: Kirby McInerney LLP Announces Investigation Into Potential Securities Fraud

NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against PicS N.V. (“PicS” or the “Company”) (NASDAQ:PICS). The investigation concerns whether the Company and/or members of its senior management may have violated federal securities laws or engaged in other unlawful business practices.

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What Happened?

On March 19, 2026, PicS N.V. (“PicS” or the “Company”) filed a Form 6-K Report of Foreign Private Issuer with the U.S. Securities and Exchange Commission reporting its financial results and related disclosures regarding its credit portfolio for the fourth quarter and full year 2025. Among other things, the Company disclosed that it reclassified a portion of its credit portfolio from Stage 2 to Stage 3 and recorded an increase of approximately 88 million Brazilian Real in expected credit loss.

During the Company’s March 18, 2026 related earnings call, Chief Financial Officer Rodrigo Luis Couto stated: “Our portfolio is still relatively young, which means that as the time passes, the amount of information we incorporate is quite substantial relative to what we had before. And as we had more information, we were able to detect a part of our portfolio that was in Stage 2 that had characteristics that would be more appropriate to be classified in Stage 3. So we did the reclassification. The level of provisioning of those credits was already high, around 60%. It went up to 75%, and that had an impact of BRL 88 million in our provision expense. So it’s basically the result of us learning more about the performance of our portfolio and making the necessary adjustments to our ECL models to make sure that we have the correct measurement at every point in time.”

On this news, the price of PicS shares declined by $3.56 per share, or approximately 22.5%, from $15.83 per share on March 18, 2026 to close at $12.27 on March 19, 2026.

What Should I Do?

At this stage, no lawsuit has been filed. The investigation is ongoing to determine whether claims may be brought under federal securities laws.

If you purchased or otherwise acquired PicS securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

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Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

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