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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of iPass Inc. (OTCMKTS: IPAS) to Pareteum Corporation (NASDAQCM: TEUM). Under the terms of the transaction, iPass shareholders will receive 1.17 shares of Pareteum for each share of iPass stock they own.
The iPass merger investigation concerns whether the Board of iPass breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Pareteum Corporation is underpaying for iPass shares, thus unlawfully harming iPass shareholders.
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