BFC Financial subsidiary settles Bluegreen shareholder lawsuit for $36.5M

BFC Financial Corp. and its Woodbridge subsidiary agreed to pay former minority shareholders of Bluegreen Corp. $36.5 million after settling a class action lawsuit. Fort Lauderdale-based BFC (Pink Sheets: BFCF) announced a deal to acquire full control of timeshare developer Bluegreen in 2011. It closed the deal for $150 million, or $10 per share to the minority shareholders, in 2013. It previously owned 54 percent of Bluegreen and the other shares were on the public market. BBX Capital Corp. (NYSE:…