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Last $1.06 USD
Change Today 0.00 / 0.00%
Volume 0.0
IPAS On Other Exchanges
As of 8:10 PM 06/29/15 All times are local (Market data is delayed by at least 15 minutes).

ipass inc (IPAS) Key Developments

iPass Inc Reaches Settlement Agreement with Hedge Funds over Board Composition

iPass Inc. has reached an agreement with Maguire Asset Management, Francis Capital Management, Foxhill Opportunity Fund. and their respective affiliates and nominees, over the composition of the iPass Board of Directors. iPass will appoint Damien Park, Richard Karp and Brent Morrison as new independent members of the Board, and Kenneth Traub will serve as an advisor and observer to the Board, all effective immediately. Park will also become chairman of the Board following the iPass 2015 annual meeting of stockholders, scheduled for 30 June, 2015. Park, Karp and Morrison join incumbent Board members John D Beletic, chairman of the Board, Gary Griffiths, president and CEO, Robert J Majteles, Michael Tedesco, Michael Chang, David Panos, and Laurence Toney. Under the terms of the Agreement, the size of the Board will be increased to ten members until the Annual Meeting at which time it will be reduced to seven members. The Company previously announced that Beletic, Majteles, and Toney will not seek re-election to the Board at the Annual Meeting. In addition, the Agreement provides that immediately following the Annual Meeting, the Board will form a Strategic Committee to consist of two Stockholder Group directors and one incumbent director to examine the Company's strategic alternatives review process.

iPass Inc. Announces Departures of Board Members

On May 25, 2015, each of Laurence Toney and John Beletic advised iPass Inc. that they would not stand for reelection at the iPass Inc. 2015 annual meeting of stockholders, and on May 26, 2015, Robert J. Majteles advised iPass Inc. that he would not stand for reelection at the iPass Inc. 2015 annual meeting of stockholders.

iPass Inc. Announces Auditor Changes

On May 20, 2015, iPass Inc. notified KPMG LLP of its dismissal as iPass's independent registered public accounting firm effective as of that date. On May 22, 2015, iPass engaged Grant Thornton LLP as its new independent registered public accounting firm, effective immediately. The decision to engage Grant Thornton LLP as iPass's independent registered public accounting firm was approved by iPass's Audit Committee.

iPass Inc. Presents at 5th LD Micro Invitational Conference, Jun-02-2015 12:00 PM

iPass Inc. Presents at 5th LD Micro Invitational Conference, Jun-02-2015 12:00 PM. Venue: Luxe Sunset Boulevard Hotel, 11461 Sunset Blvd, Los Angeles, CA 90049, United States. Speakers: Darin R. Vickery, Principal Accounting Officer, Vice President and Controller, Gary A. Griffiths, Chief Executive Officer, President, Director, Chairman of Compensation Committee and Member of Audit Committee.

iPass Inc. Ceases Renatus Hendrikse as Vice President of Worldwide Sales, Effective May 31, 2015

On May 8, 2015, iPass Inc. and Renatus Hendrikse, Vice President of Worldwide Sales of iPass, entered into an agreement pursuant to which Mr. Hendrikse will cease to be an officer and employee of iPass on May 31, 2015.


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Price/Sales 1.0x
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Price/Cash Flow 8.2x
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