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Abraham, Fruchter & Twersky, LLP Announces Investigation of Answers Corporation

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^{Published in Science and Technology on Friday, February 4th 2011 at 5:35 GMT by Market Wire}  

NEW YORK--([ BUSINESS WIRE ])--Abraham, Fruchter & Twersky, LLP has commenced an investigation against the board of directors of Answers Corporation (aAnswersa or the aCompanya) (NASDAQ:ANSW) for possible breaches of fiduciary duty and other violations of state and federal securities laws related to a proposed acquisition of Answers by AFCV Holdings, LLC (aAFCV Holdingsa), a portfolio company of Summit Partners.

On February 3, 2011, Answers announced that it had entered into a definitive merger agreement to be acquired by AFCV Holdings in a transaction valued at approximately $127 million. Under the terms of the transaction, Answersa™ common stockholders will receive $10.50 per share in cash. The holders of Series A and Series B convertible preferred stock will also be entitled to receive cash consideration based on the number of shares of common stock into which the preferred shares are convertible at the time of the proposed merger. Abraham, Fruchter & Twersky, LLP is investigating whether the proposed transaction is the product of a flawed process designed to ensure the Companya™s sale on terms favorable to AFCV Holdings and Summit Partners, but detrimental to the public shareholders.

If you own shares of Answers and would like to discuss this action, or if you have any questions concerning this notice or your rights as a potential class member or lead plaintiff, you may contact: Philip T. Taylor of Abraham, Fruchter & Twersky, LLP toll free at (800) 440-8986, or via e-mail at [ info@aftlaw.com ] or [ ptaylor@aftlaw.com ].

Abraham, Fruchter & Twersky, LLP has extensive experience in shareholder and securities class action cases, and the firm has been ranked among the leading class action law firms in terms of recoveries achieved by a survey of class action law firms conducted by Institutional Shareholder Services.

Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.