DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of BBX Capital Corporation (“BBX”) (NYSE: BBX) (formerly Bank Atlantic Bancorp) to BFC Financial Corporation for shareholders. Under the terms of the proposed merger, BBX shareholders will only receive 5.39 shares of BGC’s Class A Common Stock for each share of BBX Class A Common Stock owned. Based upon BFC’s closing price, the proposed consideration is approximately $12.96 per share.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
The BBX sale investigation centers on whether BBX’s shareholders are receiving adequate compensation for their shares in the proposed deal, whether the transaction undervalues BBX’s stock, and whether BBX’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. According to shareholder rights attorney Willie Briscoe, “due in part to the nature of stock for stock transactions, the size of the deal, the lack of a significant premium and other factors, we believe this transaction potentially undervalues BBX’s stock. Our proposed lawsuit will seek to obtain the highest share price for all shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.