Item 8.01 Other Events.

On October 9, 2009, BankAtlantic Bancorp, Inc. (the "Company") published a Notice of Pendency and Settlement of Derivative Action (the "Notice") relating to the agreement that has been reached to settle the shareholder derivative action captioned D.W. Hugo, Derivatively on behalf of Nominal Defendant BankAtlantic Bancorp, Inc., v. Alan B. Levan, Jarett S. Levan, Jay C. McClung, Marcia K. Snyder, Valerie Toalson, James A. White, John E. Abdo, D. Keith Cobb, Steven M. Coldren and David A. Lieberman, Case No. 08-61018-CV-UNGARO (S.D. Fla.) (the "Action"). The settlement agreement remains subject to court approval.
Under the terms of the proposed settlement: (i) the plaintiff will release and forever discharge its claims (subject to certain limited exceptions) against the Company and, among others, the Company's past, present and future officers, directors and employees, including the defendants, and all such released claims will be dismissed with prejudice; and (ii) the defendants will fully, finally, and forever release and relinquish all claims that have been, or could have been, asserted against the plaintiff relating to the institution, prosecution or settlement of the Action. The Company is not required to make any payments and, as a result, the settlement, if finalized in accordance with its terms, will not have any impact on the Company's financial condition or results of operations. The complete terms of the proposed settlement are set forth in a Stipulation of Settlement dated as of August 24, 2009 (the "Stipulation").
The foregoing description of the Notice and the proposed settlement of the Action is qualified in its entirety by reference to the full text of the Notice and the Stipulation. Copies of the Notice and the Stipulation are attached hereto as Exhibits 99.1 and 99.2, respectively, and are incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit 99.1 Notice of Pendency and Settlement of Derivative Action Exhibit 99.2 Stipulation of Settlement dated as of August 24, 2009

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