NEW YORK, April 3, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of AutoInfo, Inc. ("AutoInfo" or the "Company") (OTCBB:AUTO) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to AutoInfo Holdings, LLC, a subsidiary of Comvest Investment Partners IV, L.P. A complaint was filed in Florida state court.
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Under the terms of the transaction, AutoInfo shareholders will receive $1.05 for each share of AutoInfo stock they own. The claims concern whether the AutoInfo Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether AutoInfo Holdings, LLC is underpaying for AutoInfo shares, thus unlawfully harming AutoInfo stockholders.
If you own common stock in AutoInfo and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/autoinfo-auto/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.comSource:Levi & Korsinsky, LLP