SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Peregrine Semiconductor Corporation In Connection With The Proposed Sale Of The Company To Murata Electronics North America, Inc.
STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Peregrine Semiconductor Corporation (“Peregrine” or the “Company”) (NASDAQ: PSMI) relating to the proposed buyout of the Company by Murata Electronics North America, Inc., a wholly owned subsidiary of Murata Manufacturing Co., Ltd. (“Murata”).
On August 22, 2014, Peregrine and Murata announced the signing of a definitive agreement pursuant to which Murata will acquire Peregrine in a transaction valued at approximately $471 million.
Under the terms of the transaction, Peregrine shareholders are anticipated to receive $12.50 in cash for each share of Peregrine they own. The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into the transaction, and whether Murata is underpaying for Peregrine shares. In particular, Peregrine’s initial public offering occurred in August 2012, when shares were offered to the public at $14.00 per share.
If you currently own common stock of Peregrine and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.