SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Peregrine Semiconductor Corp. In Connection With The Proposed ...
23 August 2014 - 3:25AM
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 hoffman@browerpiven.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.
Brower Piven, A Professional Corporation1925 Old Valley
RoadStevenson, Maryland 21153Charles J. Piven,
410-415-6616hoffman@browerpiven.com
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