A lawsuit was filed by investor in shares of Peregrine Semiconductor Corp (NASDAQ:PSMI) in effort to stop the proposed takeover and NASDAQ:PSMI stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 09/08/2014 --An investor, who currently holds shares of Peregrine Semiconductor Corp (NASDAQ:PSMI), filed a lawsuit in effort to halt the proposed takeover of Peregrine Semiconductor Corp by Murata Electronics North America, Inc., a wholly owned subsidiary of Murata Manufacturing Co., Ltd .

Investors who purchased shares of Peregrine Semiconductor Corp (NASDAQ:PSMI) and currently hold any of those NASDAQ:PSMI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of Peregrine Semiconductor Corp breached their fiduciary duties owed to NASDAQ:PSMI investors in connection with the proposed acquisition.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:PSMI stockholders by agreeing to sell Peregrine Semiconductor Corp. too cheaply via an unfair process to rata Electronics North America, Inc., a wholly owned subsidiary of Murata Manufacturing Co., Ltd.

On August 22, 2014, Murata Electronics North America, Inc., a wholly owned subsidiary of Murata Manufacturing Co., Ltd., (TSE/OSE 6981) and Peregrine Semiconductor Corporation (NASDAQ: PSMI) announced that they have entered into an 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).

However, the plaintiff claims that the offer is unfair to NASDAQ: PSMI stockholders and undervalues Peregrine Semiconductor Corporation. Indeed, following the takeover news NASDAQ:PSMI shares reached $12.89 per share in the open market on August 22, 2014. In addition, Peregrine Semiconductor Corp went public in August 2012. Peregrine Semiconductor Corp (NASDAQ:PSMI) reported that its Total Revenue rose from $107.77 million for the 52 weeks period that ended on Dec. 31, 2011 to $203.91 million for the 52 weeks period that ended on Dec. 29, 2012, respectively $202.32 million for the 52 weeks period that ended on Dec. 28, 2013 and that its Net Loss of $9.68 million for the 52 weeks period that ended on Dec. 31, 2011 turned into a Net Income of $7.27 million for the 52 weeks period that ended on Dec. 29, 2012. Shares of Peregrine Semiconductor Corp (NASDAQ:PSMI) traded during 2012 as high as $18.705 per share. Furthermore, the plaintiff alleges that the process is also unfair to NASDAQ:PSMI stockholders.

On September 4, 2014, NASDAQ: PSMI shares closed at $12.45 per share.

Those who are current investors in Peregrine Semiconductor Corp (NASDAQ:PSMI) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com