Robbins LLP is Investigating Allegations that the Officers and Directors of PicS N.V. (previously PicPay Holdings) (PICS) on Behalf of Shareholders

Shareholder rights law firm Robbins LLP is investigating Pics N.V. (NASDAQ: PICS) to determine whether certain Pics N.V. officers and directors violated securities laws and breached fiduciary duties to shareholders. Pics N.V. is one of Brazil's largest digital wallets and all-in-one financial services apps, providing Pix transfers, consumer banking, and merchant services.

On March 19, 2026, PicS N.V. furnished a Form 6-K reporting its financial results and related disclosures regarding its credit portfolio. 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 BRL 88 million in expected credit loss.

During the Company’s March 18, 2026 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.”

Following these disclosures, the price of Pics N.V. stock declined, damaging investors.

What Now: If you lost money investing in Pics N.V., contact Robbins LLP for more information about your rights.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.