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

^{Published on 2010-12-16 16:40:36 - 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. (aCypress Biosciencea or the aCompanya) (NASDAQ:CYPB) related to the Companya™s agreement to be acquired by Ramius V&O Acquisition LLC a" an affiliate of Ramius LLC a" 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 Companya™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 Biosciencea™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 ].