iPass, Inc. Class Action Dismissed

Redwood - A federal securities fraud class action was filed against iPass Inc., the global provider of services that unify the management of remote and mobile connectivity and devices. The case was filed in the US District Court in San Francisco and involved allegations that iPass and several of its officers and directors had violated federal securities laws. The case was filed on behalf of purchasers of the securities of iPass, Inc. between April 22, 2004 and June 30, 2004. Judge Marilyn Hall Patel of the US District Court in San Francisco dismissed the class action with prejudice and found that the complaint fell short of the requirements for setting forth a claim under federal securities laws. (Sep-12-06) [MARKET WIRE]