{"id":973236,"date":"2026-06-17T10:17:29","date_gmt":"2026-06-17T14:17:29","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pics-deadline-levi-korsinsky-reminds-pics-n-v-investors-of-upcoming-securities-class-action-deadline\/"},"modified":"2026-06-17T10:17:29","modified_gmt":"2026-06-17T14:17:29","slug":"pics-deadline-levi-korsinsky-reminds-pics-n-v-investors-of-upcoming-securities-class-action-deadline","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pics-deadline-levi-korsinsky-reminds-pics-n-v-investors-of-upcoming-securities-class-action-deadline\/","title":{"rendered":"PICS DEADLINE: Levi &amp; Korsinsky Reminds PicS N.V. Investors of Upcoming Securities Class Action Deadline"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <i>Shareholders Who Acquired PicS N.V. Class A Common Stock in the $434.3 Million IPO Urged to Review Legal Options as Complaint <span>Alleges<\/span> Registration Statement Concealed December 2025 Credit Review That Reclassified R$590 Million in Loans to Default Status<\/i>\n      <\/p>\n<p>\n        <span class=\"legendSpanClass\">NEW YORK<\/span>, <span class=\"legendSpanClass\">June 17, 2026<\/span> \/PRNewswire\/ &#8212;\u00a0Levi &amp; Korsinsky, LLP announces that a securities class action has been filed against PicS N.V. (Nasdaq: PICS) in the United States District Court for the Southern District of New York.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <img decoding=\"async\" src=\"https:\/\/mmx.prnewswire.com\/media\/MS650751\/Levi_and_Korsinsky_Logo.jpg?id=OA2720913\" title=\"Levi &amp; Korsinsky, LLP\" alt=\"Levi &amp; Korsinsky, LLP\" \/>\n        <\/p>\n<\/p><\/div>\n<p>YOU MAY BE AFFECTED IF YOU:<\/p>\n<ul type=\"disc\">\n<li>Purchased\u00a0PicS Class A common stock in or traceable to the Company&#8217;s January 30, 2026 IPO at $19.00 per share<\/li>\n<li>Lost money on your PICS investment as shares fell more than 52% to below $9.00<\/li>\n<li>Acquired shares through the Offering Documents, including the Registration Statement and Prospectus<\/li>\n<\/ul>\n<p>\n        <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4713139-16&amp;h=3455679118&amp;u=https%3A%2F%2Fzlk.com%2Fcases%2Fpics-n-v-class-action-lawsuit-pics%3Fprid%3D187619%26wire%3D4&amp;a=Find+out+if+you+qualify+for+recovery\" target=\"_blank\" rel=\"nofollow\">Find out if you qualify for recovery<\/a> or contact Joseph E. Levi, Esq. at <a href=\"mailto:jlevi@levikorsinsky.com\" target=\"_blank\" rel=\"nofollow\">jlevi@levikorsinsky.com<\/a>\u00a0or (212) 363-7500.<\/p>\n<p>PicS raised $434.3 million in gross proceeds from the IPO. By June 4, 2026, shares traded below $9.00, a loss exceeding $10.00 per share for IPO purchasers. Motions for lead plaintiff must be filed with the Court by August 4, 2026.<\/p>\n<p>\n        <b>The <span>Alleged<\/span> Registration Statement Misrepresentations<\/b>\n      <\/p>\n<p>Section 11 of the Securities Act of 1933 imposes strict liability on issuers when a registration statement contains untrue statements of material fact or omits facts necessary to make other statements not misleading. Section 12(a)(2) extends similar liability to those who offer or sell securities by means of a materially misleading prospectus. Neither provision requires proof of fraudulent intent.<\/p>\n<p>The action contends that PicS&#8217; Offering Documents, declared effective on January 28, 2026, presented a materially incomplete picture of the Company&#8217;s credit portfolio health. Specifically, the Prospectus highlighted &#8220;strict credit underwriting criteria&#8221; and proprietary AI models claiming &#8220;up to 3.0 times more accuracy,&#8221; while <span>allegedly<\/span> concealing the results of a December 2025 internal review that found historical credit evaluation policies and procedures were deficient.<\/p>\n<p>\n        <b>What the Registration Statement <span>Allegedly<\/span> Misrepresented<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>The Offering Documents reported a Stage 3 formation rate of 3.6% as of September 30, 2025, but\u00a0<span>allegedly<\/span> failed to disclose that this rate had nearly doubled to 7.1% in Q4 2025, which closed before the IPO<\/li>\n<li>The Prospectus touted proprietary credit models and &#8220;exclusive behavior credit data&#8221; while the Company had already determined these models required significant methodological overhauls in December 2025<\/li>\n<li>The Registration Statement omitted that R$590 million in loan exposures had been reclassified from Stage 2 (underperforming) to Stage 3 (credit-impaired\/defaulted), triggering an R$88 million incremental expected credit loss charge<\/li>\n<li>The Offering Documents\u00a0<span>allegedly<\/span> failed to comply with SEC Regulation S-K Item 303, which required disclosure of known trends or uncertainties impacting revenues, and Item 105, which required disclosure of the most significant risk factors<\/li>\n<li>As pleaded, the risk disclosures characterized already-materialized credit deterioration as hypothetical future possibilities rather than existing conditions<\/li>\n<\/ul>\n<p>\n        <b>IPO Due Diligence and Underwriter Obligations<\/b>\n      <\/p>\n<p>Eleven underwriters shared $30.4 million in underwriting discounts and commissions. The action contends that the Underwriter Defendants failed to conduct adequate due diligence in connection with the IPO and the preparation of the Offering Documents, which was a substantial factor leading to the <span>alleged<\/span> harm.<\/p>\n<p>\n        <i>&#8220;The PSLRA provides important protections for investors harmed by <span>alleged<\/span> securities violations. When an IPO prospectus omits material developments that occurred weeks before the offering, purchasers who relied on those documents deserve a path to recovery.&#8221;<\/i>\u00a0&#8212; Joseph E. Levi, Esq.<\/p>\n<p>\n        <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4713139-16&amp;h=3620934155&amp;u=https%3A%2F%2Fzlk.com%2Fcases%2Fpics-n-v-class-action-lawsuit-pics%3Fprid%3D187619%26wire%3D4&amp;a=Start+your+claim+now\" target=\"_blank\" rel=\"nofollow\">Start your claim now<\/a>\u00a0or call Joseph E. Levi, Esq. at (212) 363-7500.<\/p>\n<p>WHY LEVI &amp; KORSINSKY &#8212; Ranked in ISS Securities Class Action Services&#8217; Top 50 Report for seven consecutive years, Levi &amp; Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors. Motions for lead plaintiff must be filed with the Court by August 4, 2026.<\/p>\n<p>\n        <b>Frequently Asked Questions About the PICS Lawsuit<\/b>\n      <\/p>\n<p>\n        <b>Q: Who is eligible to join the PICS investor lawsuit?<\/b>\u00a0A: Investors who purchased PicS N.V. Class A common stock in or traceable to the Company&#8217;s January 30, 2026 IPO and suffered financial losses may be eligible. Eligibility is based on purchase timing and documented losses, not on whether you still hold the shares.<\/p>\n<p>\n        <b>Q: What specific misstatements does the PICS lawsuit <span>allege<\/span>?<\/b>\u00a0A: The complaint <span>alleges<\/span> PicS made materially false or misleading statements in its IPO Offering Documents regarding the quality of its credit underwriting, the accuracy of its proprietary credit models, and the health of its loan portfolio, while concealing a December 2025 internal review that found deficient credit procedures and necessitated reclassification of R$590 million in loans to default status.<\/p>\n<p>\n        <b>Q: What is the PICS lead plaintiff deadline?<\/b>\u00a0A: The deadline to apply for lead plaintiff appointment is August 4, 2026. This deadline applies only to investors seeking to serve as lead plaintiff. Class members who do not apply may still participate in any recovery without taking action before this date.<\/p>\n<p>\n        <b>Q: What does it cost me to participate?<\/b>\u00a0A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.<\/p>\n<p>\n        <b>Q: What if I already sold my PICS shares &#8212; can I still recover losses?<\/b>\u00a0A: 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.<\/p>\n<p>\n        <b>Q: Do I need to go to court or give testimony?<\/b>\u00a0A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.<\/p>\n<p>\n        <b>Q: What court was the PICS class action filed in?<\/b>\u00a0A: The case was filed in the United States District Court for the Southern District of New York, governed by the Securities Act of 1933.<\/p>\n<p>CONTACT:<\/p>\n<p>Levi &amp; Korsinsky, LLP<br \/>Joseph E. Levi, Esq.<br \/>Ed Korsinsky, Esq.<br \/>33 Whitehall Street, 27th Floor<br \/>New York, NY 10004<br \/><a href=\"mailto:jlevi@levikorsinsky.com\" target=\"_blank\" rel=\"nofollow\">jlevi@levikorsinsky.com<\/a><br \/>Tel: (212) 363-7500<br \/>Fax: (212) 363-7171<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/edge.prnewswire.com\/c\/img\/favicon.png?sn=NY85384&amp;sd=2026-06-17\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/pics-deadline-levi--korsinsky-reminds-pics-nv-investors-of-upcoming-securities-class-action-deadline-302802661.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/pics-deadline-levi&#8211;korsinsky-reminds-pics-nv-investors-of-upcoming-securities-class-action-deadline-302802661.html<\/a><\/p>\n<p>SOURCE Levi &amp; Korsinsky, LLP<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NY85384&amp;Transmission_Id=202606171013PR_NEWS_USPR_____NY85384&amp;DateId=20260617\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Shareholders Who Acquired PicS N.V. Class A Common Stock in the $434.3 Million IPO Urged to Review Legal Options as Complaint Alleges Registration Statement Concealed December 2025 Credit Review That Reclassified R$590 Million in Loans to Default Status NEW YORK, June 17, 2026 \/PRNewswire\/ &#8212;\u00a0Levi &amp; Korsinsky, LLP announces that a securities class action has been filed against PicS N.V. (Nasdaq: PICS) in the United States District Court for the Southern District of New York. YOU MAY BE AFFECTED IF YOU: Purchased\u00a0PicS Class A common stock in or traceable to the Company&#8217;s January 30, 2026 IPO at $19.00 per share Lost money on your PICS investment as shares fell more than 52% to below $9.00 Acquired shares through &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pics-deadline-levi-korsinsky-reminds-pics-n-v-investors-of-upcoming-securities-class-action-deadline\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;PICS DEADLINE: Levi &amp; Korsinsky Reminds PicS N.V. Investors of Upcoming Securities Class Action Deadline&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-973236","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PICS DEADLINE: Levi &amp; Korsinsky Reminds PicS N.V. Investors of Upcoming Securities Class Action Deadline - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pics-deadline-levi-korsinsky-reminds-pics-n-v-investors-of-upcoming-securities-class-action-deadline\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PICS DEADLINE: Levi &amp; Korsinsky Reminds PicS N.V. Investors of Upcoming Securities Class Action Deadline - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire Shareholders Who Acquired PicS N.V. Class A Common Stock in the $434.3 Million IPO Urged to Review Legal Options as Complaint Alleges Registration Statement Concealed December 2025 Credit Review That Reclassified R$590 Million in Loans to Default Status NEW YORK, June 17, 2026 \/PRNewswire\/ &#8212;\u00a0Levi &amp; Korsinsky, LLP announces that a securities class action has been filed against PicS N.V. (Nasdaq: PICS) in the United States District Court for the Southern District of New York. YOU MAY BE AFFECTED IF YOU: Purchased\u00a0PicS Class A common stock in or traceable to the Company&#8217;s January 30, 2026 IPO at $19.00 per share Lost money on your PICS investment as shares fell more than 52% to below $9.00 Acquired shares through &hellip; Continue reading &quot;PICS DEADLINE: Levi &amp; Korsinsky Reminds PicS N.V. 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Investors of Upcoming Securities Class Action Deadline - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/pics-deadline-levi-korsinsky-reminds-pics-n-v-investors-of-upcoming-securities-class-action-deadline\/","og_locale":"en_US","og_type":"article","og_title":"PICS DEADLINE: Levi &amp; Korsinsky Reminds PicS N.V. Investors of Upcoming Securities Class Action Deadline - Market Newsdesk","og_description":"PR Newswire Shareholders Who Acquired PicS N.V. Class A Common Stock in the $434.3 Million IPO Urged to Review Legal Options as Complaint Alleges Registration Statement Concealed December 2025 Credit Review That Reclassified R$590 Million in Loans to Default Status NEW YORK, June 17, 2026 \/PRNewswire\/ &#8212;\u00a0Levi &amp; Korsinsky, LLP announces that a securities class action has been filed against PicS N.V. (Nasdaq: PICS) in the United States District Court for the Southern District of New York. YOU MAY BE AFFECTED IF YOU: Purchased\u00a0PicS Class A common stock in or traceable to the Company&#8217;s January 30, 2026 IPO at $19.00 per share Lost money on your PICS investment as shares fell more than 52% to below $9.00 Acquired shares through &hellip; Continue reading \"PICS DEADLINE: Levi &amp; Korsinsky Reminds PicS N.V. Investors of Upcoming Securities Class Action Deadline\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/pics-deadline-levi-korsinsky-reminds-pics-n-v-investors-of-upcoming-securities-class-action-deadline\/","og_site_name":"Market Newsdesk","article_published_time":"2026-06-17T14:17:29+00:00","og_image":[{"url":"https:\/\/mmx.prnewswire.com\/media\/MS650751\/Levi_and_Korsinsky_Logo.jpg?id=OA2720913","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pics-deadline-levi-korsinsky-reminds-pics-n-v-investors-of-upcoming-securities-class-action-deadline\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pics-deadline-levi-korsinsky-reminds-pics-n-v-investors-of-upcoming-securities-class-action-deadline\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"PICS DEADLINE: Levi &amp; Korsinsky Reminds PicS N.V. 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