The law firm of Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of Bluegreen Corporation (“Bluegreen” or the “Company”) (NYSE: BXG), concerning the proposed acquisition of the Company by BFC Financial Corporation (“BFC”) (OTC: BFCF.PK). Under the terms of the transaction, Bluegreen shareholders would receive eight shares of BFC common stock for each share they own.
Based on the most recent closing price for BFC, the value of the merger consideration is approximately $3.20 per Bluegreen share. The Company’s stock traded at $3.25 as recently as June 14, 2011, and the Company reports a book value of $8.34 per share. BFC already owns 52% of Bluegreen’s Common stock.
The investigation is focused on the potential unfairness of the consideration to Bluegreens’s shareholders, the process by which the Company’s Board of Directors considered the transaction, and potential conflicts of interests among Bluegreens’s Board members.
If you are interested in discussing your rights as a Bluegreen shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at
Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in financial litigation, and has been appointed as lead or co-lead counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers.
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