Partner Juan E. Monteverde of Faruqi & Faruqi, LLP is Seeking More Cash for the Shareholders of BBX Capital Corporation (BBX)
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of BBX Capital Corporation (“BBX” or the “Company”) (NYSE: BBX) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to BFC Financial Corporation (“BFC”) (OTC MKTS: BFCF). Under the terms of the proposed transaction, shareholders of BBX other than BFC will receive 5.39 shares of BFCF's class A common stock for each share of BBX class A common stock that they own.
The investigation focuses on whether BBX’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of BBX shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.
If you own common stock in BBX and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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