According to the Complaint, iPass, Inc. provides collaboration and technology solutions for large and medium enterprises in the United States.

On November 12, 2018, iPass and Pareteum issued a joint press release announcing the Proposed Merger, in which Pareteum will acquire all of the issued and outstanding shares of iPass.

The Complaint alleges that on December 4, 2018, in order to convince iPass shareholders to tender their shares, the Board authorized the filing of a materially incomplete and misleading Schedule 14D-9 Solicitation/Recommendation Statement (the “Recommendation Statement”) with the Securities and Exchange Commission. In particular, the Complaint alleges that the Recommendation Statement contains materially incomplete and misleading information concerning: (i) financial projections; (ii) the valuation of Pareteum and the Merger Consideration; and (iii) the valuation analyses performed by the Company’s financial advisor.

This case was voluntarily dismissed as moot on February 15, 2019.