Answers Shareholder Sues Over $127M Summit Deal

Law360, New York (February 7, 2011, 8:42 PM EST) -- An Answers Corp. shareholder on Monday launched a proposed class action aiming to block private equity company Summit Partners' $127 million cash buyout of the company, which runs Answers.com and WikiAnswers.com.

Jordan Lewis filed the putative class action on behalf of Answers shareholders in the Court of Chancery of the State of Delaware against the company, Chairman and CEO Robert Rosenschein and five directors, as well as Summit Partners, Summit's portfolio company AFCV Holdings LLC and AFCV unit A-Team Acquisition Sub Inc.

The lawsuit comes four...
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