Bradesco becomes the target of a lawsuit in the US.
Bradesco became the target of a lawsuit filed by investors in a United States court this Friday (3), under suspicion of concealing involvement in an alleged tax fraud scheme investigated by Operation Zelotes, of the Federal Police; the lawsuit was filed in the Manhattan district court on behalf of holders of Bradesco American Depositary Receipts (ADRs); the argument is that the price of Bradesco's shares was inflated due to allegedly false and misleading information provided by Brazil's second largest private bank; the bank denies
247 - Bradesco became the target of a lawsuit filed by investors in a United States court on Friday (3), under suspicion of concealing involvement in an alleged tax fraud scheme at the Federal Revenue Service investigated by Operation Zelotes, by the Federal Police.
The lawsuit was filed on behalf of holders of American Depositary Receipts (ADRs) of Bradesco, who allege that the price of Bradesco's shares was inflated due to supposedly false and misleading information provided by Brazil's second-largest private bank.
Bradesco stated this Friday that its shares have not experienced significant fluctuations that would justify a lawsuit from investors in the United States, and that it will hire law firms to represent it in the matter.