A securities class action has been filed against Cepton, Inc. (CPTN) on behalf of a class consisting of all persons and entities other than Defendants that purchased or sold shares Cepton common stock between July 29, 2024 through January 6, 2025. This case has been filed in the USDC – NDCA.
The complaint alleges that hroughout 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: (i) Cepton had received a credible third-party bid valuing Cepton at more than double the Koito Acquisition; (ii) 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;(iii) consequently, Cepton’s shareholders were deprived of the opportunity to meaningfully consider whether to accept or reject the Koito Acquisition; and (iv) as a result, Defendants’ public statements were materially false and misleading at all relevant times.