NEW YORK, July 28, 2016 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the potential sale of BBX Capital Corporation (NYSE: BBX) ("BBX" or the "Company") on behalf of its shareholders. BBX announced that it has entered into a definitive agreement to be acquired by its parent company, BFC Financial Corporation (OTCQB: BFCF) (OTCQB: BFCFB) for 5.4 shares of BFC's Class A Common Stock or $20.00 in cash for each share of BBX's Class A Common Stock held by them. BFC currently owns approximately 81% of BBX's Class A Common Stock and 100% of its Class B Common Stock.
Our investigation has determined that the offer price of only $20 per share, unfairly under-values the true going forward inherent value of BBX and that shareholders may not be receiving the maximum value for their shares. The investigation further seeks to determine whether there is a conflict of interest among the members of the Board of Directors as well as whether the BBX senior management is entering into this deal for its' own self-interests to the detriment of the Company's shareholders.