The information contained on this web page is only a summary of the information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Motion for an Award of Attorneys’ Fees and Payment of Litigation Expenses; and (III) Settlement Fairness Hearing (“Notice”). Because this web page is just a summary, you should review the Notice and Frequently Asked Questions for additional details.
This action, captioned In re Banco Bradesco S.A. Securities Litigation, 1:17-CV-01665 (GHW) (“Action”), was brought in the United States District Court for the Southern District of New York (“Court”). The Action alleged that, during the Settlement Class Period (i.e., August 8, 2014 through July 27, 2016, inclusive), Defendants violated the federal securities laws by making false and misleading statements and omissions in order to conceal an alleged tax bribery scheme in Brazil. Defendants deny any liability or wrongdoing.
The Court-appointed Lead Plaintiff Public Employees’ Retirement System of Mississippi (“Lead Plaintiff”), on behalf of itself and the Settlement Class (as defined below), has reached a proposed settlement of the Action with Defendants for $14,500,000.00 in cash that will resolve all claims in the Action (“Settlement”).
The Settlement Class consists of:
All persons and entities who purchased or otherwise acquired the preferred American Depositary Shares issued by Banco Bradesco S.A. (“Bradesco PADS” or “PADS”) during the period from August 8, 2014 through July 27, 2016, inclusive, and were injured thereby. Certain persons and entities are excluded from the Settlement Class by definition (see paragraph 21 of the Notice).
If you are a member of the Settlement Class, your legal rights will be affected whether or not you act. PLEASE READ THE NOTICE CAREFULLY TO FULLY UNDERSTAND YOUR RIGHTS AND OPTIONS. The Frequently Asked Questions page of this website also has information on your rights as a Settlement Class Members.
If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment from the proceeds of the Settlement, you were required to submit a Claim Form. Claim Forms must have been postmarked (if mailed) or submitted via this website, no later than December 21, 2019.
Payments to eligible claimants will be made after the completion of all claims processing. Please be patient, as this process will take some time to complete.
If you have questions, please call 1-877-848-4284 or email info@BancoBradescoSecuritiesLitigation.com.