NEW YORK, Aug. 22, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Peregrine Semiconductor Corp. ("Peregrine" or the "Company") (NASDAQ: PSMI) relating to the proposed buyout of the Company by Murata Electronics North America Inc. ("Murata"). On August 22, 2014, Peregrine and Murata announced that they had entered into a definitive agreement under which Murata will acquire all outstanding shares of Peregrine not owned by Murata, for $12.50 per share in cash, or a total transaction value of $471 million ( $465 million excluding Murata's existing holding). The investigation concerns whether the Board of Peregrine breached its fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, whether Murata is underpaying for Peregrine shares, and whether there were any conflicts of interest on the part of the senior management and/or board of directors of Peregrine in entering into this transaction for their own self interests and not for the benefit of its shareholders. Indeed, Peregrine has approximately $45 million in cash on hand (or $1.34 per share) and has no long term debt. In addition, Murata has an ownership stake in Perergrine, including the two companies having an existing partnership in place for many years. If you own shares of Peregrine and would like further information regarding this investigation at no cost or expense, please contact us at: Tripp Levy PLLC New York, New York Toll free: 800-511-7037 International: 602-241-2841Email: email@example.com Tripp Levy PLLC represents individual and institutional shareholders and, along with its affiliates, has recovered billions of dollars for shareholders in similar actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. Attorney advertising. Prior results do not indicate a similar outcome.