Company: BBD
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001292814-25-001244
Chunk: 64

Company: BANK BRADESCO
Filing Date: 2025-03-31
Form: 20-F
Item: Item 3
Chunk 64
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 A failure in, or breach of, our operational, security or technological infrastructure and systems, or those of our suppliers, could temporarily interrupt our businesses and cause losses”.
 
3.D.20.06-09 The Brazilian Supreme Court (“STF”) and Brazilian Superior Court of Justice (“STJ”) are currently deciding cases relating to the application of inflation adjustments during periods of hyperinflation in Brazil, which may increase our costs and result in losses.
 The STF, the highest court in Brazil, has responsibility for judging constitutional matters, and is currently deciding whether savings account holders have the right to obtain adjustments for inflation related to their deposits due to the Bresser, Verão, Collor I and Collor II economic plans, implemented in the 1980s and 1990s, before the Plano Real, in 1994. In September 2010, the STF ordered the suspension of all appeals dealing with the Bresser and Verão Plans and the unblocked amounts of the Collor I Plan, excluding executive actions (arising from a final judgment) and those in the instructional phase.
 The trial of the paradigm cases began in November 2013 but was interrupted without any pronouncement on the merits of the subject under discussion by the Ministers. According to the associations representing the savings account holders, banks misapplied the inflationary adjustments when those economic plans were implemented and should be required to indemnify the savings account holders for the non-adjustment of those amounts.
  
26 – Form 20-F 2024 | Bradesco
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The STF decided that the judgments for ordinary class actions proposed by associations, as procedural representatives, questioning the inflationary adjustments only benefit consumers who: (i) were associated with the associations at the time of filing of the class actions; and (ii) authorized the filing of the ordinary class action. This reduced the number of beneficiaries in ordinary class actions because, until then, it was understood that these decisions should benefit all consumers affected by the practices (i.e., all consumers who are account holders and who had suffered losses related to inflationary adjustments, irrespective of whether those losses of savings account holders were associated with the association, that filed for the class action).
 In parallel, the STJ also analyzes class actions related to inflationary purges. In May 2014, the STJ decided that the starting date for calculating default interest for compensating savings account holders must be the date of the initial citation of the public civil action (rather than the date of settlement