A complaint has been filed by a group of bondholders against Banco Bradesco SA, accusing the bank of not disclosing a conflict of interest during the debt restructuring process of InterCement Participacoes SA.

The bondholders claim that Bradesco, which served as an underwriter for InterCement's dollar notes in 2014, concealed important information about its preferred shares in the company.

The bondholders argue that Bradesco's preferred shares included a put option, which they believe was not disclosed, giving the bank an unfair advantage in the negotiations for the restructuring.

The complaint was submitted to the New York State Supreme Court, raising concerns about transparency and potential conflicts in financial dealings involving major institutions.