Maguire Asset Management & Others Go Active On iPass Inc.

Maguire Asset Management & Others Go Active On iPass Inc. by Activist Stocks

A collective of activist investors have teamed up to take on iPass, the sub $100 million market cap Wi-Fi roaming company. The group is calling themselves the iPass Shareholders for Change, owning 7.7% collectively and nominating five members for the board. Of them, is Hedge Fund Solutions' Damien Park, CEO of Ethos Management Ken Traub and MD of Zuma Capital Brent Morrison. The biggest shareholder is Maguire Asset Management with a 5% stake. Others include Zuma Capital, Foxhill Capital, Catalysis Partners and Francis Capital.

These guys believe that the gross underperformance of the company (where it's off 90% since its 2003 IPO) is the direct result of...