Law Offices of Howard G. Smith announces that it is investigating potential claims against the Board of Directors of AutoInfo Inc. (“AutoInfo” or the “Company”) (OTCBB: AUTO) 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.
This investigation concerns whether the Board of Directors of AutoInfo 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 skyrocketed 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 our investigation, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.