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BBX CAPITAL CORP (BBX)

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BBX Capital Corp : BBX Capital Corp. Board of Directors Under Investigation by Glancy Binkow & Goldberg LLP

05/09/2013 | 08:10pm US/Eastern

Glancy Binkow & Goldberg LLP is investigating potential claims against the Board of Directors of BBX Capital Corporation ("BBX Capital" or the "Company") (NYSE:BBX) related to the proposed acquisition of the Company by BFC Financial Corporation ("BFC"). Under the terms of the acquisition, BBX Capital shareholders will receive 5.39 shares of BFC Class A Common Stock for each share of BBX Capital Class A Common Stock owned. Based upon BFC's Wednesday closing price, the transaction values BBX Capital at approximately $13.42 per share.

This investigation concerns whether the Board of Directors of BBX Capital breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has skyrocketed from $1.87 on March 7, 2012 to $12.28 on April 29, 2013.

If you are a shareholder of BBX Capital, if you have information or would like to learn more about our investigation, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to shareholders@glancylaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Glancy Binkow & Goldberg LLP
Louis Boyarsky, Esquire
310-201-9150 or 888-773-9224
shareholders@glancylaw.com


© Business Wire 2013
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