This is going to be every securities lawyer's wet dream if the deal closes. Company and large shareholders colluding to discount the value of the company's cash by 60%? Usually these bad mergers are settled even when there isn't a good cause of action, but when you sell your cash at 40 cents on the dollar, it may get a summary judgement.
In order to break that deal we all should buy as many CBYL shares as possible at the joke low price levels $0.4401 ~ $0.4999! In this way we might have over 50% of OS to vote against this kind of merger deal...