NEW YORK, NY – July 17, 2026 (
While you are an investor in PicS and accumulate suffered losses, which that it’s seemingly you’ll perchance also objective
DEADLINE REMINDER: While you are a member of the proposed Class, which that it’s seemingly you’ll perchance also objective dart the court no later than August 4, 2026 to wait on as a lead plaintiff for the purported class. When which that it’s seemingly you’ll perchance also objective accumulate losses we abet you to contact us to learn more about the lead plaintiff course of. You have to always have not peek to turn out to be a lead plaintiff in account for to share in any doable restoration.
On or spherical January 30, 2026, PicS concluded its IPO, selling roughly 22.9 million shares of Class A regular stock at $19 per share.
On March 19, 2026, decrease than three months after the IPO, PicS launched its fourth quarter and complete year 2025 financial results, which ended December 31, 2025 – sooner than the IPO. The Firm revealed that in December 2025, as part of the Firm’s “annual evaluation of expected credit score loss parameters,” the Firm had “implemented a stricter protection to speed up the classification of renegotiated non-performing exposures from Stage 2 to Stage 3.” Consequently, “R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, ensuing in an ECL amplify of R$88 million in the quarter.” Stage 3 is the Firm’s absolute best chance category for its credit score portfolio, or “credit score impaired.”
On March 19, 2026, the worth of PicS shares fell $3.56 per share, or 22.5%, to cessation at $12.27 per share.
The criticism alleges, among other issues, that in reference to the IPO, Defendants made uncouth and/or misleading statements and/or failed to expose that “(a) that PicS had performed an evaluation of its credit score evaluation procedures in December 2025 and distinct that such procedures were unpleasant and attempting enhancement; (b) that, as a results of the unusual procedures the Firm had implemented in December 2025, PicS had reclassified roughly R$590 million of exposures beforehand categorized as Stage 2 to Stage 3, main to an incremental ECL fee of R$88 million in the three months ended December 31, 2025; (c) that PicS had experienced a heightened, but unreported, Stage 3 formation rate of greater than 7% in the fourth quarter of 2025 that deviated considerably from the historic results and trends supplied in the Offering Documents; (d) that the Offering Documents had materially overstated the quality and talent of the Firm’s credit score devices and individual records to expose the Firm’s underwriting practices and to allow PicS to timely and effectively video display, assess, and establish unfavorable credit score events, credit score risks, and credit score deterioration all over its portfolio; and (e) that PicS suffered from degradations in buyer credit score quality and heightened risks of default and loan impairment as a results of its entrance into materially riskier alternate lines main up to the IPO, ensuing in undisclosed unfavorable financial and operational trends resembling heightened incidents of default, which predated the IPO and were internally projected by PicS to proceed to aggravate following the IPO, materially impairing the Firm’s alternate, operations, and financial results.”
The criticism alleges that as of June 4, 2026, PicS Class A regular stock fell to a low of decrease than $9 per share, representing a greater than 50% decline from the $19 per share IPO worth.
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