Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of BioSphere Medical, Inc.

NEW YORK, May 13, 2010 (GLOBE NEWSWIRE) -- Levi & Korsinsky is investigating the Board of Directors of BioSphere Medical, Inc. ("BioSphere" or the "Company") BSMD for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Merit Medical Systems, Inc. ("Merit Medical") MMSI. Under the terms of the transaction, BioSphere shareholders will receive $4.38 in cash for each BioSphere share of common stock they own for a total transaction value of approximately $96 million.

The investigation concerns whether the BioSphere Board of Directors breached their fiduciary duties to BioSphere stockholders by failing to adequately shop the Company before entering into this transaction and whether Merit Medical is underpaying for BioSphere shares, thus unlawfully harming BioSphere stockholders. In particular, at least one analyst set a price target for BioSphere stock at $6.00 per share.

If you own common stock in BioSphere 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 or visit http://www.zlk.com/biosphere-medical-bsmd.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.