The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of AutoInfo, Inc. (“AutoInfo” or the “Company”) (OTCBB: AUTO) and other violations of state law by the board of directors of AutoInfo relating to the proposed acquisition of the Company by AutoInfo Holdings, LLC, a subsidiary of private investment firm Comvest Investment Partners IV, L.P. The firm’s investigation seeks to determine, among other things, whether AutoInfo’s board of directors breached their fiduciary duties by failing to maximize shareholder value.
As stated in the press release announcing the proposed transaction, AutoInfo shareholders will receive $1.05 in cash for each share of AutoInfo they own. That represents only a small premium to the recent trading price of AutoInfo stock.
If you currently own common stock of AutoInfo and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at firstname.lastname@example.org, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.