Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Cypress Bioscience, Inc., in Connection w...
December 16 2010 - 7:30PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Cypress Bioscience, Inc. (“Cypress Bioscience” or the “Company”)
(NASDAQ:CYPB) related to the Company’s agreement to be acquired by
Ramius V&O Acquisition LLC – an affiliate of Ramius LLC – and
affiliates of Royalty Pharma. The proposed transaction is valued at
approximately $255 million.
Under the terms of the definitive merger agreement entered into
by the parties, Cypress Bioscience shareholders will receive $6.50
per share in cash for each share they own of the Company’s common
stock. The proposed transaction is currently expected to be
completed in January 2011, but could close as early as December 30,
2010. The board of directors of Cypress Bioscience has unanimously
approved the proposed transaction. The investigation concerns
possible breaches of fiduciary duty and other violations of law
related to approval of the proposed transaction by Cypress
Bioscience’s board of directors.
If you are a shareholder of Cypress Bioscience, if you have
information or would like to learn more about these claims, or if
you wish to discuss these matters or have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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