The Real Deal Miami

Levitt may change name

May 09, 2008 02:23PM

Fort Lauderdale home-builder Levitt Corp. is asking its stockholders to
approve a name change to Woodbridge Financial Corp., arguing the name
better reflects the company’s change of direction. The proposal goes to
stockholders at Levitt’s May 20 annual meeting. In a filing with the
Securities & Exchange Commission, Levitt did not disclose its plans
beyond saying its activities would go beyond its current real estate
operations. The company, which is the parent of developer Core
Communities and an investor in Bluegreen Corp in Boca Raton, has seen
its stock price fall below $2 as the real estate market sagged. Its
52-week high was $11.82 on June 5.