SAN FRANCISCO, June 24, 2016 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds Banco Bradesco S.A. (NYSE:BBD) (NYSE:BBDO) investors of the August 2, 2016 Lead Plaintiff deadline in the securities class action filed in the U.S. District Court for the Southern District of New York.
If you purchased or otherwise acquired securities of Banco Bradesco S.A. (“Banco Bradesco” or the “Company”) between April 30, 2012 and May 31, 2016 and suffered $100,000 or more in losses contact Hagens Berman Sobol Shapiro LLP partner Reed Kathrein, who is leading the firm’s investigation by calling 510-725-3000, emailing BBD@hbsslaw.com or visiting https://www.hbsslaw.com/cases/BBD.
The litigation concerns Brazil’s two-year federal probe into corruption and money laundering by numerous Brazilian companies, including Banco Bradesco. When Associated Press reported on March 27, 2015 that Brazil’s Federal Police were investigating more than 50 companies, including banks, for allegedly bribing officials to reduce or annul fines on unpaid taxes the price of Banco Bradesco’s shares fell approximately 20% to close at $8.86 per share that day.
Later, when Reuters reported on May 31, 2016 that the Company’s CEO (Luiz Carlos Trabuco), CFO (Luiz Carlos Angelotti) and a senior vice president (Domingos de Abreu) were indicted in a tax fraud investigation tied to the overall corruption and money laundering probe, the price of Banco Bradesco’s shares fell approximately 6% to close at $6.26 per share on May 31, 2016.
“The apparent plot to illegally avoid an approximate $828 million tax fine and resulting senior executive indictments suggest securities fraud,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Banco Bradesco should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email BBD@hbsslaw.com.
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