The Law Offices of Vincent Wong Announce an Investigation into Possible Breaches of Fiduciary Duty by the Board of Answers.co...
04 Février 2011 - 6:39PM
Business Wire
The Law Offices of Vincent Wong are 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. Under the terms of
the transaction, Answers.com stockholders will receive $10.50 per
share in cash for a total transaction value of approximately $127
million. Also, Series A and Series B convertible preferred
stockholders will be entitled to a 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 Vincent Wong, Esq. either
via email vw@wongesq.com, by telephone at 212.584.2740, or visit
http://www.wongesq.com/answers.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights. Attorney advertising.
Prior results do not guarantee similar outcomes.
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