The Shareholders Foundation announced that a deadline is coming up on August 2, 2016 in the lawsuit filed for certain investors in NYSE:BBD shares over alleged securities laws violations by Banco Bradesco SA.
Investors who purchased shares of Banco Bradesco SA (ADR) (NYSE:BBD) have certain options and there are strict and short deadlines running. Deadline: August 2, 2016. NYSE:BBD stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges on behalf of purchasers of Banco Bradesco SA (ADR) (NYSE:BBD) common shares between April 30, 2012 and May 31, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between April 30, 2012 and May 31, 2016 defendants issued false and misleading statements to investors and/or failed to disclose that Banco Bradesco SA was engaged in a bribery scheme in collusion with the Brazilian Finance Ministry’s CARF, that certain Banco Bradesco SA executives were plotting to avoid an $828 million tax fine that was imposed by Brazil’s Internal Revenue Service, that Banco Bradesco’s CEO, Defendant Cappi, and other executives, directors and employees of the Company had engaged in bribery, money laundering, and corruption;, that Banco Bradesco’s internal control over financial reporting and its disclosure controls and procedures were not effective, and that as a result, Banco Bradesco’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On May 31, 2016, various news outlets reported that Brazil’s federal police indicted certain Banco Bradesco SA executives, including Chief Executive Officer Luiz Carlos Trabuco Cappi, on corruption-related charges. Brazil’s federal police accused certain Banco Bradesco SA executives of plotting to avoid an $828 million tax fine that was imposed by Brazil’s Tax Revenue Service.
Shares of Banco Bradesco SA (ADR) (NYSE:BBD) declined on May 31, 2016 to $6.10 per share.
On August 1, 2016, NYSE:BBD shares closed at $8.62 per share.
Those who purchased NYSE:BBD shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com