Possesses tyrosine phosphatase activity. H2O + O-phospho-L-tyrosyl-[protein] = L-tyrosyl-[protein] + phosphate Monomer; active form. Homodimer; inactive form (Probable). Interacts with CNTN3, CNTN4, CNTN5 and CNTN6. Found in a variety of tissues. Belongs to the protein-tyrosine phosphatase family. Receptor class 5 subfamily.