LOS ANGELES, April 19, 2013 (GLOBE NEWSWIRE) -- Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of AutoInfo Inc. ("AutoInfo" or the "Company") related to the proposed acquisition of the Company by AutoInfo Holdings, LLC, a subsidiary of Comvest Partners. The transaction values AutoInfo shares at approximately $1.05.
The investigation concerns whether the Company's Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has increased from $0.490 on August 9, 2011 to $0.989 on January 8, 2013.
If you are a shareholder of AutoInfo, 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 Louis Boyarsky, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to shareholders@glancylaw.com.
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