Faruqi & Faruqi, LLP Announces Shareholder Investigation Related to the Acquisition of Answers Corp.

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Answers Corp. (“Answers” or the “Company”) (NasdaqCM: ANSW) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to private equity firm Summit Partners for an estimated $127 million in cash. The proposed transaction offers Answers shareholders to only receive $10.50 for each share they own. The deal is expected to close in the second quarter. Robert Rosenschein, Answers’ Chief Executive Officer, and certain investment entities affiliated with Redpoint Ventures who collectively own approximately 27.2% of the outstanding shares of Answers stock have agreed to vote in favor of the sale of the Company.

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Whether the Answers’ Board of Directors breached their fiduciary duties to Answers’ stockholders by failing to conduct an adequate and fair sales process to sell the Company prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Answers’ shares and by how much this proposed transaction undervalues the Company to the detriment of Answers shareholders are the key focus of this investigation.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.

If you own common stock in Answers and wish to obtain additional information, please visit us at www.faruqilaw.com/ANSW or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

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Answers Corp. (MM) (NASDAQ:ANSW)
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