Pension Funds and Asset Managers Holding PicS N.V. Shares From the $434 Million IPO Face Fiduciary Obligations to Evaluate Recovery Options as Credit Portfolio Losses Exceed $10 Per Share

NEW YORK, June 11, 2026 /PRNewswire/ — Institutional investors holding positions in PicS N.V. (Nasdaq: PICS) acquired in or traceable to the Company’s January 30, 2026 initial public offering may wish to evaluate lead plaintiff opportunities in a pending securities class action. Request an institutional investor loss assessment. You may also contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt.

PicS Class A common stock was offered at $19.00 per share in a $434.3 million IPO. By June 4, 2026, shares traded below $9.00, a decline exceeding 52%, resulting in losses of more than $10.00 per share for IPO purchasers. The window to apply for lead plaintiff closes on August 4, 2026.

Notice to Institutional Holders

The complaint, filed in the United States District Court for the Southern District of New York, asserts that the IPO’s Offering Documents contained materially false and misleading statements regarding the quality of PicS’ credit underwriting procedures and the health of its loan portfolio. Specifically, the action claims that a December 2025 internal review found the Company’s historical credit evaluation policies were deficient, triggering the reclassification of R$590 million in exposures from Stage 2 (underperforming) to Stage 3 (credit-impaired). This information was not disclosed to IPO investors.

ERISA and Fiduciary Considerations

Pension funds, endowments, and registered investment advisers that acquired PICS shares during the IPO face particular considerations:

• Fiduciaries holding PICS shares in ERISA-governed plans have an independent obligation to evaluate whether pursuing recovery serves plan participants’ interests
• Institutional investors with the largest documented losses are well-positioned to seek lead plaintiff appointment, providing direct oversight of litigation strategy and settlement terms
• Lead plaintiff appointment carries no additional financial obligation; securities class actions proceed on a contingency basis with no out-of-pocket costs to the lead plaintiff or class members
• Institutions that fail to evaluate available legal remedies following a portfolio loss of this magnitude may face questions regarding their discharge of fiduciary duties
• The PSLRA’s lead plaintiff presumption favors the movant with the largest financial interest in the relief sought, a standard institutional holders frequently satisfy

Contact us for institutional recovery options or call (888) SueWallSt.

Portfolio Impact Assessment

The IPO attracted significant institutional demand, with the Offering Documents reporting that subscription interest exceeded available shares by more than 12 times. Eleven underwriters, led by Citigroup Global Markets and BofA Securities, collectively received $30.4 million in underwriting discounts and commissions. The complaint contends that none of these parties conducted adequate due diligence to identify the undisclosed credit deterioration that preceded the offering.

“Institutional investors play a critical role in securities class actions. Their participation as lead plaintiffs helps ensure vigorous prosecution of claims and meaningful recoveries for all class members who suffered losses in this IPO.” — Joseph E. Levi, Esq.

Case Summary

The securities action alleges violations of Sections 11, 12(a)(2), and 15 of the Securities Act of 1933. Claims are brought against PicS, eight individual officer and director defendants who signed the Registration Statement, eleven underwriter defendants, and controlling persons including J&F Participacoes S.A. and its controlling shareholders who held approximately 96.4% of combined voting power following the IPO.

INSTITUTIONAL INVESTOR REPRESENTATION — SueWallSt provides sophisticated counsel to institutional investors evaluating lead plaintiff opportunities. The firm has recovered hundreds of millions of dollars. Ranked among ISS Top 50 for seven consecutive years.

Frequently Asked Questions About the PICS Lawsuit

Q: When did PicS N.V. allegedly mislead investors? A: The class covers investors who purchased PicS Class A common stock in and/or traceable to the Company’s January 30, 2026 IPO. The complaint alleges the Offering Documents filed with the SEC contained materially false and misleading statements at the time of the offering.

Q: How much did PICS stock drop? A: Shares fell from the $19.00 IPO price to below $9.00 by June 4, 2026, a decline exceeding 52% and representing losses of more than $10.00 per share for IPO purchasers.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

Q: What documents do I need to make a claim? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my PICS shares — can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.

Q: Can I join a different law firm’s lawsuit instead? A: Yes. Multiple firms often file competing complaints. The court then consolidates and appoints a single lead counsel. Contacting SueWallSt before August 4, 2026 ensures your losses are considered.

CONTACT:
SueWallSt
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@SueWallSt.com
Tel: (888) SueWallSt
Fax: (212) 363-7171

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SOURCE SueWallSt.com