Hume joined the Tykes from Leicester last summer but has not featured since suffering a fractured skull following a challenge by Sheffield United defender Chris Morgan five months ago.
Seventeen MPs have signed an Early Day Motion asking the FA to take action against Morgan and Barnsley are currently seeking legal advice.
"We are looking at the legal hurdles in the way of seeking to recover damages from Sheffield United. Our action will not be dependent on whether we are relegated," Cryne told the Yorkshire Post.
"Our argument is, simply, that we paid a lot of money for Iain Hume in transfer fee and wages and we have lost his services through a violent, reckless, or intentional act.
"His loss to Barnsley FC had a serious impact on our season."