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MCCC, DLKM, IMMR, ORFG, CYPB - Stock News for Wednesday December 22nd, 2010

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Mediacom Communications Corp. (Nasdaq:MCCC) announced that Levi & Korsinsky, LLP has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of current stockholders of Mediacom Communications Corp. (NASDAQ:MCCC) in connection with the planned acquisition of the company by Rocco Commisso, Mediacom’s Chairman, Chief Executive Officer, and controlling shareholder.

The lawsuit, entitled Pease v. Commisso, Index No. 10-cv-9263, alleges, among other things, that the defendants violated Section 14(a) of the Securities Exchange Act of 1934 and corresponding Rule 14a-9. In particular, the plaintiff alleges that the defendants have issued materially false or misleading statements regarding the proposed acquisition.

Mediacom Communications Corporation develops cable systems to provide entertainment, information, and telecommunications services in the United States.

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Douglas Lake Outlines Gold Exploration Targets

Douglas Lake Minerals (OTCBB:DLKM) has provided an update regarding its recently acquired Handeni Project which is located in the rapidly developing region of eastern Tanzania.

Douglas Lakes’ is 100% owned Handeni Project consists of four prospecting licenses covering approximately 800 km(2) which are directly adjacent to, and partly surround, Canaco Resources Inc’s (V.CAN) 200 km(2) Kilindi license which holds the Magambazi gold mineralization occurrence.

Douglas Lake Successfully Delineates Structural Controls on Gold Mineralization in the Four Handeni Project PLs

This exploration phase included a fixed-wing aircraft flown aeromagnetic and radiometric survey at a line spacing of 200m and a height of 80m, subsequent interpretation of data and ground follow-up. The survey and interpretation was conducted according to internationally accepted standards by the Council for Geoscience, South Africa.

Interpretation of aeromagnetic data was successful in delineating prominent structural features including NW-SE shear zones of which five in the Company’s property area, with a total length of 143km, are given first order priority. These shear zones and their distances within the Company’s properties are: 1 - Southwestern shear zone (31km); 2 - Kimamba shear zone (41km); 3 - Kilima Mzinga - Kwandege main shear zone (28km); 4 - Mligazi shear zone (15km); and 5 - Magambazi - Mjembe (28km) shear zone.

The Company has identified three further key elements in the delineation of gold mineralization which includes the prominence of NE-SW lineaments (seven in total), the role of SW to NE thrust planes and the use of radioelements to outline potential target areas.

Three major SW to NE thrusts planes were also identified: a main thrust zone of 46km; and two additional thrusts zones of 5km and 3km each. In addition to the key elements sheath folding, open folds (2km to 10km scale) and boudinage provide additional targets with a second order priority.

Douglas Lake Minerals is focused on exploring for gold on its two strategically located properties – the Handeni Gold Project and the Mkuvia Alluvial Gold Project. The 800 square kilometer Handeni is located directly adjacent to Canaco’s highly prospective Handeni Gold Project (CAN.V). The 380 square kilometer Mkuvia alluvial gold property is being developed by joint-venture partners.

More about DLKM at: www.douglaslakeminerals.com

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Immersion Corporation (Nasdaq:IMMR) a leading developer and licensor of touch feedback technology, announced that it has been awarded its 500th patent in its world-wide portfolio of over 1000 granted and pending patents.

Immersion’s most recent additions to its patent portfolio are directed at improving and broadening the control of haptic feedback for a variety of touch screen devices and enabling next generation haptic experiences for consumers.

This combination of technology and user experience innovation aligns with Immersion’s comprehensive approach to user interface design.

Immersion Corporation develops, manufactures, licenses, and supports a range of hardware and software technologies and products that enhance digital devices with touch interaction.

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Orofino Gold Corp. (ORFG.PK)

Orofino Gold Corp. has several Gold development properties in Colombia, a current hot spot of gold production in the world markets.

ORFG is please to announce that the Board Of Directors have appointed Mr. Ning Shi Long as Chairman of the Board and Executive Director.

Mr. Ary Fernando Pernett Marque has been appointed as the new President/CEO & Executive Director of Orofino Gold Corp. See full resume on ORFG’s website.

Mr. Pernett will be responsible for all affairs of ORFG in Colombia. Mr. Pernett has 30 years of experience working in the Colombian Mining sector and will over the near term choose his new development team to assist in the development of the company’s Senderos de Oro gold camp in the Sur de Bolivar Colombia.

ORFG and Mr. Pernett will continue to work with Contexto Legal of Medellin and Bogota, ORFG ’s legal counsel as well as Discovery Consultants, (The Qualified 43-101 team) Canada, as they have in the past. The new team will now aggressively pursue other known Gold occurrences in the companies Senderos de Oro Gold Camp while the development team works to improve production at La Azul Mine.

The Board of Director’s have accepted resignation of John T. Martin, former Managing Director of the Company. His resignation is effective immediately. ORFG wish him well and success in future endeavors.

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Cypress Bioscience, Inc. (Nasdaq:CYPB) announced that The Law Office of Abe Shainberg is investigating the Board of Directors of Cypress Bioscience for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Ramius V&O Acquisition LLC, an affiliate of Ramius LLC and affiliates of Royalty Pharma. 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.

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 the buyers are underpaying for Cypress shares. At least one analyst set a price target for Cypress stock at $7.00.

Cypress Bioscience, Inc. provides therapeutics and personalized medicine services in the United States.

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