DEADLINE ALERT: Faruqi & Faruqi, LLP Reminds PicS N.V. (PICS) Investors of Securities Class Action Deadline on August 4, 2026

NEW YORK--(BUSINESS WIRE)--Jun 9, 2026--

Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. (“PicS” or the “Company”) (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

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As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.

On or around January 29, 2026, PicPay conducted its initial public offering (“IPO”), selling 22.86 million Class A common shares priced at $19.00 per share.

Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company’s “annual review of expected credit loss parameters,” it had made several “enhancements” to its Expected Credit Loss (“ECL”) calculations, and “implemented a stricter policy to accelerate 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, resulting in an ECL increase of R$88 [$17.56 million USD].” Stage 3 is the Company's highest risk category for its credit portfolio.

On this news, PicPay’s stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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DEADLINE ALERT: Faruqi & Faruqi, LLP Reminds PicS N.V. (PICS) Investors of Securities Class Action Deadline on August 4, 2026

MCKINNEY, Texas (AP) — A Texas teenager who fatally stabbed a 17-year-old track athlete from a rival team during a meet was convicted of murder Tuesday in a trial that drew national attention far beyond the booming Dallas suburb where the two students attended different high schools.

A jury rejected Karmelo Anthony’s claims of self-defense during a confrontation with Austin Metcalf in the stadium’s bleachers last year. Anthony, now 19, didn’t testify. Most who did were students who described a heated exchange over him refusing to leave a tent belonging to Metcalf’s team during a rainy competition.

Anthony faces up to life in prison upon sentencing.

The trial drew lines of spectators hoping to find seats in the gallery and unfolded amid heavy security at a courthouse in Collin County. Anthony and Metcalf attended separate schools in Frisco, one of Texas’ fastest-growing cities that is dotted with dozens of modern school campuses and gleaming athletic facilities.

Several students testified that Metcalf, after ordering Anthony to leave his team’s tent, scoffed before Anthony reached a hand into a bag and pulled out a knife.

One teenage witness recalled Metcalf telling Anthony, “You don’t have anything in that backpack. It’s Frisco.”

Outside attention on the case spread, in part, over social media posts that amplified the killing in racial terms. Anthony is Black; Metcalf was white. Prosecutors and defense attorneys told jurors that the case had nothing to do with race.

Instead, prosecutor Bill Wirskye called the stabbing a “sneak, surprise attack” and accused Anthony of egging on the confrontation. Mike Howard, an attorney for Anthony, said his client acted in a “split second of fear, chaos” after Metcalf made the first physical contact.

The stabbing happened on a rainy morning in April 2025. Teenage witnesses said the confrontation began after Anthony sat under a tent belonging to the track team of Memorial High School, where Metcalf was in his junior year.

Other students competing at the meet testified that several athletes told Anthony to leave the tent and that he was the aggressor. When Metcalf told Anthony he needed to move, Anthony reached inside a bag and replied: “Touch me and see what happens,” according to a police report.

Metcalf then pushed Anthony, according to witnesses, who said Anthony reacted by pulling out a knife and stabbing Metcalf in the chest.

One teammate told jurors that Anthony was “distraught” after the stabbing. Judge John Roach Jr. ordered that the names of teenage witnesses not be made public.

“I was hearing him say, ‘I told him not to touch me,’” the teenager said.

The parents of both Anthony and Metcalf have said they were good students who planned to go to college.

Associated Press writer Ed White in Detroit contributed to this report.

Supporters for Karmelo Anthony demonstrate in front of the Collin County courthouse Thursday, June 4, 2026, in McKinney, Texas. (AP Photo/Tony Gutierrez)

A Collin County seriff drives past the front of the county courthouse Thursday, June 4, 2026, in McKinney, Texas. (AP Photo/Tony Gutierrez)