Apparently, it is based on a Danish TV miniseries.
According to AMC, the show:
ties together three distinct stories around a single murder including the detectives assigned to the case, the victim's grieving family and the suspects. Set in Seattle, the story also explores local politics as it follows politicians connected to the case. As the series unfolds, it becomes clear that there are no accidents; everyone has a secret, and while the characters think they've moved on, their past isn't done with them.
A TV show about the murder investigation of a young woman in the Northwestern United States...now, where have I heard that before...
To be fair, I think the Twin Peaks similarities end there. I'm definitely looking forward to this show, but sad that it is pushing Breaking Bad into AMC's summer slot.