A securities class action has been filed in the USDC – N.D.CA. against Cepton, Inc. (CPTN) (“Cepton” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Cepton securities between July 29, 2024, and January 6, 2025, both dates inclusive (the “Class Period”).
Prior to the Koito Acquisition, Cepton was an electronics company focused on the deployment of high performance, mass-market lidar technologies to deliver safety and autonomy across the Automotive and Smart Infrastructure markets. The Company offered near-range lidars, long-range lidars and ultra-long-range lidars, automotive software and smart lidar systems that include its perception software.
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:
(1) Cepton had received a credible third-party bid valuing Cepton at more than double the Koito Acquisition;
(2) Cepton’s Board of Directors failed to meaningfully explore the foregoing offer and failed to disclose its terms when recommending that Cepton’s shareholders approve the Koito Acquisition;
(3) consequently, Cepton’s shareholders were deprived of the opportunity to meaningfully consider whether to accept or reject the Koito Acquisition; and
(4) as a result, Defendants’ public statements were materially false and misleading at all relevant times, thereby harming investors.
If you purchased Cepton securities during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.