INVESTOR ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of BBX Capital Corp. And Encourages Shareholde...
August 01 2016 - 8:01PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of BBX Capital Corporation
(NYSE: BBX) (“BBX” or the “Company”) relating to the proposed
buyout of BBX by BFC Financial Corporation (“BFC”).
Under the terms of the agreement, BBX shareholders other than
BFC will be entitled to receive, at their election, 5.4 shares of
BFC Class A Common Stock or $20.00 in cash for each share of BBX
Class A common stock held by them. BBX shareholders will have the
right to elect to receive all cash, all stock, or a combination of
cash and stock in exchange for their shares. BFC currently owns
approximately 81% of BBX Class A common stock and 100% of its Class
B common stock.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company’s shares of common
stock.
If you currently own common stock of BBX and believe that the
proposed buyout price is too low, or you would like to learn more
about the investigation being conducted by Brower Piven, please
visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
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version on businesswire.com: http://www.businesswire.com/news/home/20160801006344/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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