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Tripp Levy PLLC Investigates Buyout of Cypress Bioscience by Ramius

^{Published on 2010-07-19 06:00:36 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Tripp Levy PLLC announces an investigation into the proposed acquisition of Cypress Bioscience, Inc. (NASDAQ: CYPB). Ramius Value and Opportunity Advisors LLC, a subsidiary of Ramius LLC, announced that it has sent a letter to the Board of Directors of Cypress outlining an offer to acquire all of the outstanding shares of the Company that it does not already own for $4.00 per share in cash. Ramius currently owns 9.9% of the outstanding common stock of Cypress.

The investigation concerns, among other things, whether the consideration to be paid to Cypress shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of Cypress. Indeed, analysts have recently projected that Cypressa™ true inherent value is worth as much as $10 per share.

The investigation further concerns whether Ramius, as a significant shareholder of the Cypress may have breached its fiduciary duties by not acting in Cypress shareholders' best interests in connection with the sale process of Cypress.

If you own Cypress common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact

Tripp Levy PLLC is a national law firm that specializes in mergers & acquisitions, takeover litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States.

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