updated 2/3/2011 2:17:09 PM ET 2011-02-03T19:17:09

OKLAHOMA CITY, Feb. 3, 2011 (GLOBE NEWSWIRE) -- The law firm of Federman & Sherwood has initiated an investigation into Answers.com Corporation (Nasdaq:ANSW) ("Answers.com") with respect to possible breaches of fiduciary duty by the company's officers and directors, as well as violations of state law in connection with its proposed sale and merger with AFCV Holdings, LLC, a portfolio company of growth equity investor Summit Partners. ("AFCV").

Answers.com and AFCV have agreed to a $127 million cash deal, whereby each Answers.com shareholder would receive $10.50 in cash for each share they own. Federman & Sherwood is investigating whether the proposed merger makes all necessary disclosures, whether it offers adequate value to the Company's shareholders, and whether Answers.com could have received a higher valuation for its shareholders by seeking other purchasers.

If you own common stock in Answers.com Corporation and wish to discuss this action, or have any questions or concerns regarding this notice or preservation of your rights, please contact our firm. Federman & Sherwood has extensive experience representing investors in securities, derivative and merger-related shareholder class actions.

CONTACT:  William B. Federman
          FEDERMAN & SHERWOOD
          10205 North Pennsylvania Avenue
          Oklahoma City, OK 73120
          (405) 235-1560
          Email to: wbf@federmanlaw.com - www.federmanlaw.com

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