The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of ...
December 16 2010 - 11:26AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Cypress Bioscience (“Cypress” or the “Company”) (NASDAQ:CYPB) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Ramius V&O
Acquisition LLC, an affiliate of Ramius LLC (collectively,
“Ramius”), and affiliates of Royalty Pharma (“Royalty Pharma”).
Under the terms of the transaction, Cypress shareholders will
receive $6.50 per share in cash for a total transaction value of
approximately $255 million.
Click here to learn how to join the action:
http://www.zlk.com/cypress-cypb.html, or call: 877-363-5972.
The investigation concerns whether the Cypress Board of
Directors breached their fiduciary duties to Cypress stockholders
by failing to adequately shop the Company before entering into this
transaction and whether Ramius is underpaying for Cypress shares.
In particular, at least one analyst set a price target for Cypress
stock at $7.00.
If you own common stock in Cypress and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email
at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972, or visit http://www.zlk.com/cypress-cypb.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. The attorneys at Levi & Korsinsky have been
appointed by numerous courts throughout the country to serve as
lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions. For more information, please
feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
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