Pomerantz LLP

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BBX Capital Corporation

We are investigating BBX Capital Corporation (BBX) (“BBX Capital”) and Bluegreen Vacations Corporation (BXG) (“Bluegreen Vacations”), which is 90% owned by BBX Capital, for potential violations of the federal securities laws. 

On May 28, 2019, Bluegreen Vacations announced that Bass Pro Inc. (“Bass Pro”) and its affiliates had notified Bluegreen Vacations that Bass Pro was terminating the parties’ Marketing Agreement effective as of the close of business on May 24, 2019, citing alleged breaches by Bluegreen Vacations.  As a result of the termination of the Marketing Agreement, Bluegreen Vacations no longer has access to Bass Pro’s marketing channels or advertising materials.  On this news, Bluegreen Vacations’ stock price fell $0.25 per share, or 2.99%, to close at $8.10, while BBX Capital’s stock price fell $0.23 per share, or 5.13%, to close at $4.25 per share on May 29, 2019.