Science & Technology
Science and TechnologyScience and Technology 
Tue, February 15, 2011
Mon, February 14, 2011
The Law Office of Abe Shainberg Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Answers.com
NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of Answers.com (Nasdaq: ANSW) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to AFCV Holdings, Inc. (aAFCVa). Under the terms of the proposed transaction, Answers.com stockholders will receive $10.50 in cash for each outstanding share of common stock they own for a total transaction value of approximately $127 million. In addition, holders of Answers.com Series A and Series B convertible preferred stock will receive cash consideration based on the amount of common stock into which those shares are convertible at the time of the merger.
The investigation concerns whether the Answers.com Board of Directors breached their fiduciary duties to Answers.com stockholders by failing to adequately shop the Company before entering into this transaction and whether AFCV is underpaying for Answers.com shares.
If you own common stock in Answers.com and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/answers-answ.html ].
Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.