Rigrodsky & Long, P.A. Investigates Answers Corporation Buyout

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Answers Corporation (“Answers.com” or the “Company”) (Nasdaq: ANSW) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired and taken private by AFCV Holdings, LLC (“AFCV”), a portfolio company of growth equity investor Summit Partners, in a transaction valued at approximately $127 million.

Under the proposed agreement, Answers.com common stock shareholders will receive $10.50 in cash for each outstanding share of common stock they own. The holders of Series A and Series B convertible preferred stock will also be entitled to receive cash consideration based on the number of the common stock into which those shares are convertible at the time of the merger.

The investigation concerns whether Answers.com’s board of directors failed to adequately shop the Company and obtain the best price possible for Answers.com’s shareholders before entering into the agreement with AFCV. Indeed, as recent as November 8, 2010, Answers.com reported its third quarter 2010 financial results wherein the Company reported solid traffic growth. Answers.com Chairman and CEO, Robert Rosenschein, commented “Looking ahead, we are very focused on diversifying our revenue sources and improving monetization to capitalize on our growing traffic… We are confident that Q4 2010 revenue will be materially better than Q3 2010 revenue, and we expect that our 2011 revenue will also exhibit healthy growth over 2010.”

If you own the common stock of Answers.com and purchased your shares before February 3, 2011, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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