Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Peregrine Semiconductor Corporation (“Peregrine” or the “Company”) (NASDAQ: PSMI) relating to the sale of the Company to Murata Electronics North America, Inc. (“Murata”) a wholly-owned subsidiary of Murata Manufacturing Co, Ltd. On August 22, 2014, the two companies announced the signing of a definitive merger agreement pursuant to which Murata will acquire Peregrine in a merger valued at roughly $471 million. As a result of the merger, Peregrine shareholders are only anticipated to receive $12.50 per share in cash in exchange for each share of Peregrine.
Our investigation so far has revealed that the process leading up to the announcement of the merger appears to have some questionable conflicts of interest, thus making the process and consideration unfair. In fact, just 2 years ago on August 8, 2012, Peregrine made its initial public offering at $14.00 per share. Andrews & Springer is investigating whether Peregrine directors are breaching their fiduciary duties by failing to adequately shop the company and maximize shareholder value. Andrews & Springer is also investigating the fairness of the sales process conducted by Deutsche Bank and Evercore.
If you own shares of Peregrine and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/psmi or contact Craig J. Springer, Esq. at firstname.lastname@example.org, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
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