NEW YORK -- (Business Wire)
The law firm of Wohl & Fruchter LLP is investigating the proposed merger
of BBX Capital Corporation (BBX) (NYSE: BBX) with BFC Financial
On May 7, 2013, BBX and BFC announced that they had entered into an
agreement pursuant to which BBX will become a wholly owned subsidiary of
Under the terms of the merger agreement, BBX's shareholders will be
entitled to receive 5.39 shares of BFC's Class A Common Stock for each
share of BBX's Class A Common Stock held at the effective time of the
merger. BFC’s stock currently trades over-the-counter in the pink sheets.
BFC currently owns approximately 53% of BBX's Class A Common Stock and
100% of its Class B Common Stock.
Wohl & Fruchter’s investigation concerns, among other things, the
fairness of the process used to approve the merger in light of BFC’s
substantial stock ownership of BBX, and whether the board of directors
of BBX breached its fiduciary duties in connection with the transaction.
Additional information is available at http://www.wohlfruchter.com/cases/bbx.
Persons with relevant information, and BBX shareholders with questions
about this investigation, are invited to contact our Firm by calling
866.582.8140, or contacting the attorney below.
About Wohl & Fruchter
Wohl & Fruchter LLP represents plaintiffs in litigation arising from
fraud and other fiduciary breaches by corporate managers, as well as
other complex litigation matters. Please visit our website, www.wohlfruchter.com,
to learn more about our Firm, or contact one of our partners.
This release may be deemed to constitute attorney advertising.
Wohl & Fruchter LLP
J. Elazar Fruchter, 845-425-4658
Source: Wohl & Fruchter LLP
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