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The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Cy

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^{Published in Health and Fitness on Thursday, December 16th 2010 at 8:36 GMT by Market Wire}  

NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of Cypress Bioscience (aCypressa or the aCompanya) (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, aRamiusa), and affiliates of Royalty Pharma (aRoyalty Pharmaa). 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.