NEW YORK--(BUSINESS WIRE)--
The law firm of Wohl & Fruchter LLP is investigating the proposed merger of BBX Capital Corporation (BBX) (BBX) with BFC Financial Corporation (BFC).
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 BFC.
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.
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