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Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Cypress Bioscience, Inc.

^{Published on 2010-07-21 19:00:50 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Cypress Bioscience, Inc. (aCypressa or the aCompanya) (NASDAQ:CYPB) related to a proposal from Ramius, LLC (aRamiusa) to acquire, in a proposed cash transaction, all of the outstanding shares of Cypress common stock not currently owned by Ramius.

"will review the proposal with its financial and legal advisors."

Under the terms of the going-private proposal, Ramius would acquire all of the outstanding shares of common stock of Cypress not currently owned by Ramius for $4.00 per share in cash. Ramius currently owns 9.9% of the outstanding common stock of Cypress. On July 19, 2010, Cypress confirmed its receipt of the proposal in a Company-issued press release, stating that its board of directors awill review the proposal with its financial and legal advisors.a The investigation concerns possible breaches of fiduciary duty and other violations of law related to consideration of the proposal by Cypressa™s board of directors.

If you own shares of Cypress, 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 ].