NEW YORK, Dec. 31, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Spansion, Inc. ("Spansion" or "the Company") (NYSE: CODE) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to Cypress Semiconductor Corporation ("Cypress") (Nasdaq: CY). A complaint was filed in California state court.

Click here to learn more about the action: http://zlk.9nl.com/spansion-code.

Under the terms of the transaction, Spansion shareholders will receive 2.457 shares of Cypress stock for each share of Spansion stock they own. The claims concern whether the Board of Spansion breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Cypress is underpaying for Spansion shares.

If you own Spansion common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/spansion-code.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.