The Law Office of Joseph Klein is Investigating Possible Breaches of Fiduciary Duty by the Board of Answers.com in Connection...
07 Febrero 2011 - 5:52PM
Business Wire
The Law Office of Joseph Klein 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. (“AFCV”). Under the
terms of the proposed deal, Answers.com stockholders will receive
$10.50 in cash per share for a total transaction value of
approximately $127 million. Also, holders of Answers.com Series A
and Series B convertible preferred stock will also 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 Joseph Klein, Esq. directly,
via email at jk@jkleinlawfirm.com, by telephone at 718-947-0005,
Toll Free: 877-STOK-180, or visit
http://www.jkleinlawfirm.com/answers-com-answ.html.
Joseph Klein, Esq. is an experienced attorney and has also
practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving
financial fraud throughout the nation. Attorney advertising. Prior
results do not guarantee similar outcomes.
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