INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Investors of Peregrine Semiconductor Corporation of Class Action Against Its Board of Directors in Connection With the Sale of the Company to Murata Electronics North America, Inc. -- PSMI

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| Source: Levi & Korsinsky, LLP

NEW YORK, Sept. 2, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Peregrine Semiconductor Corporation ("Peregrine" or "the Company") (Nasdaq:PSMI) of claims of breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Murata Electronics North America, Inc., a wholly owned subsidiary of Murata Manufacturing Co., Ltd. ("Murata"). A complaint was filed in California state court.

Click here to learn more about the investigation: http://zlk.9nl.com/peregrine-semiconductor-psmi, or call: 877-363-5972. There is no cost or obligation to you.

Under the terms of the transaction, Peregrine shareholders will receive approximately $12.50 per share, representing a total approximate transaction value of $471 million. The claims concern whether the Board of Peregrine breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Murata is underpaying for Peregrine shares.

If you own Peregrine common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/peregrine-semiconductor-psmi.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
www.zlk.com