Core Viewpoint - A class action lawsuit has been filed against Cepton, Inc. for allegedly making materially false and misleading statements regarding its business operations and compliance policies during the Class Period from July 29, 2024, to January 6, 2025 [1][5]. Group 1: Lawsuit Details - The lawsuit claims that Cepton received a credible third-party bid valuing the company at more than double the Koito Acquisition, which was not disclosed to shareholders [5]. - It is alleged that Cepton's Board of Directors failed to adequately explore the third-party offer and did not disclose its terms when recommending the Koito Acquisition to shareholders [5]. - As a result of these actions, shareholders were deprived of the opportunity to meaningfully consider the acquisition, leading to materially false and misleading public statements by the defendants [5]. Group 2: Participation Information - Investors who purchased or sold Cepton, Inc. common stock during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - To join the class action, interested parties can visit the provided link or contact the law firm directly for more information [3][6].

Core Viewpoint - A class action lawsuit has been filed against Cepton, Inc. for allegedly failing to disclose a competing acquisition bid during the approval process of its merger with Koito Manufacturing Co., which may have undervalued Cepton shares [1][3][5]. Group 1: Lawsuit Details - The lawsuit is on behalf of investors who traded Cepton shares between July 29, 2024, and January 6, 2025 [1][2]. - The merger proposal from Koito valued Cepton shares at $3.17 each, while a credible third-party bid valued the company at more than double that amount [3][5]. - The Delaware Court of Chancery is currently handling a lawsuit from former shareholders against Cepton's senior officers, revealing that proxy materials for the Koito acquisition concealed material information [4][5]. Group 2: Allegations Against Cepton - Cepton's Board of Directors allegedly did not adequately explore the competing offer and failed to disclose its terms when recommending the Koito transaction to shareholders [5]. - The complaint also suggests that Cepton's CEO had conflicts of interest regarding the Koito proposal, further complicating the situation for shareholders [5].

LOS ANGELES, Oct. 09, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Cepton, Inc., (“Cepton” or the "Company") (NASDAQ: CPTN) investors of a class action on behalf of investors that bought securities between July 29, 2024 and January 6, 2025, inclusive (the “Class Period”). Cepton investors have until December 8, 2025 to file a lead plaintiff motion. Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or ...

Core Viewpoint - A class action lawsuit has been filed against Cepton, Inc. for alleged violations of federal securities laws during the specified class period [1][2]. Group 1: Lawsuit Details - The lawsuit seeks to recover damages for investors who purchased Cepton securities between July 29, 2024, and January 6, 2025 [2]. - The Complaint alleges that Cepton's management made materially false and misleading statements regarding the company's business and operations [3]. - Specific allegations include that Cepton received a credible third-party bid valuing the company at more than double the Koito Acquisition, which was not disclosed to shareholders [3]. Group 2: Implications for Shareholders - The Complaint claims that the Board of Directors failed to explore the third-party offer meaningfully and did not disclose its terms when recommending the Koito Acquisition [3]. - As a result, shareholders were deprived of the opportunity to consider whether to accept or reject the Koito Acquisition [3]. Group 3: Next Steps for Investors - Investors who suffered losses in Cepton have until December 8, 2025, to request to be appointed as lead plaintiff in the case [4]. - The law firm representing the class action operates on a contingency fee basis, meaning they will only collect fees if successful [5].

Core Viewpoint - A class action lawsuit has been filed against Cepton, Inc. alleging that the company misled investors regarding its acquisition by Koito Manufacturing Co., Ltd. [1][2] Group 1: Allegations - The lawsuit claims that Cepton did not disclose a credible third-party bid that valued the company at more than double the acquisition price offered by Koito, which was $3.17 per share [3] - It is alleged that Cepton's Board of Directors failed to adequately explore the third-party offer and did not disclose its terms when recommending the Koito acquisition to shareholders [3] - As a result of these actions, shareholders were deprived of the opportunity to make an informed decision regarding the acquisition [3] Group 2: Legal Proceedings - Shareholders interested in participating as lead plaintiffs in the class action must file their papers with the court by December 8, 2025 [4] - Participation in the case is not required to be eligible for recovery, allowing shareholders to remain absent class members if they choose [4] Group 3: Firm Background - Robbins LLP is noted for its focus on shareholder rights litigation, helping shareholders recover losses and improve corporate governance since 2002 [5]

Group 1 - A shareholder has filed a class action lawsuit on behalf of purchasers or sellers of Cepton, Inc. common stock during the Class Period from July 29, 2024, to January 6, 2025 [1] - Cepton, Inc. was previously an electronics company before its acquisition [1]

Core Viewpoint - A class action lawsuit has been filed against Cepton, Inc. and certain officers, alleging violations of federal securities laws during the Class Period from July 29, 2024, to January 6, 2025, related to the company's merger with Koito Manufacturing Co., Ltd. [1][5] Group 1: Class Action Details - The lawsuit seeks to recover damages for all persons and entities that purchased or sold Cepton common stock during the Class Period [1] - Investors have until December 8, 2025, to request to be appointed as Lead Plaintiff for the class [2] Group 2: Company Background - Cepton is an electronics company focused on high-performance lidar technologies for the Automotive and Smart Infrastructure markets, offering various lidar systems and software [3] - Koito Manufacturing Co., Ltd. invested $200 million in Cepton, acquiring 30.1% of voting power and two board seats as of July 2023 [4] Group 3: Merger and Allegations - In July 2024, Cepton accepted Koito's bid to acquire all outstanding capital stock for $3.17 per share, which closed on January 7, 2025 [5] - The lawsuit alleges that Cepton's Board failed to disclose a credible third-party bid valuing the company at more than double the Koito Acquisition price, depriving shareholders of meaningful consideration [5][7] - The Amended Complaint claims that the acquisition price was unreasonable and that the Board concealed critical facts in their communications with shareholders [7]

Core Points - A shareholder class action lawsuit has been filed against Cepton, Inc. alleging that the company made materially false and misleading statements regarding its business and operations [1] - The lawsuit claims that Cepton received a credible third-party bid valuing the company at more than double the Koito Acquisition, which was not disclosed to shareholders [1] - It is alleged that Cepton's Board of Directors failed to explore the third-party offer meaningfully and did not disclose its terms when recommending the Koito Acquisition to shareholders [1] - As a result, shareholders were deprived of the opportunity to consider the third-party offer when deciding on the Koito Acquisition [1] - The lawsuit asserts that the public statements made by the defendants were materially false and misleading at all relevant times [1] Legal Context - Shareholders who purchased Cepton shares between July 29, 2024, and January 6, 2025, and experienced significant losses are encouraged to discuss their legal rights [2] - The deadline to request to be appointed lead plaintiff in the case is December 8, 2025 [3] - Holzer & Holzer, LLC is a law firm specializing in securities litigation and has a history of recovering significant amounts for shareholders affected by corporate misconduct [3]

Revenue and Market Performance - Cepton's revenue is primarily derived from lidar sensor sales and development arrangements, with a significant decline expected in lidar sensor revenue for 2024 due to the cancellation of the GM series production award[148]. - Development revenue is anticipated to increase significantly in 2024 compared to 2023, driven by an engineering services contract with Koito worth approximately $10 million[149][136]. - Total revenue for the three months ended September 30, 2024, was $0.5 million, a decrease of $3.3 million or 86% compared to $3.8 million in the same period in 2023[163]. - Development revenue increased by $10.6 million to $10.9 million for the nine months ended September 30, 2024, from $0.3 million for the same period in 2023[167]. - Lidar sensor and prototype revenue decreased by $3.3 million, or 88%, to $0.5 million for the three months ended September 30, 2024, from $3.8 million for the same period in 2023[164]. Costs and Expenses - The company incurred $1.6 million and $3.2 million in transaction costs related to the Koito merger agreement during the three and nine months ended September 30, 2024, respectively[135]. - Cepton's gross margins are expected to fluctuate based on market conditions, product mix, and manufacturing cost structure, with a focus on driving down costs as production volumes increase[151][142]. - Total cost of revenue for the three months ended September 30, 2024, was $0.6 million, a decrease of $2.7 million or 82% compared to $3.3 million in the same period in 2023[168]. - Research and development expense decreased by $1.2 million, or 18%, to $5.5 million for the three months ended September 30, 2024, from $6.7 million for the same period in 2023[172]. - Selling, general, and administrative expense decreased by $0.8 million, or 13%, to $5.3 million for the three months ended September 30, 2024, from $6.1 million for the same period in 2023[173]. Profitability and Losses - Operating loss for the three months ended September 30, 2024, was $10.9 million, a decrease of $1.4 million or 11% compared to $12.3 million in the same period in 2023[163]. - Net loss for the three months ended September 30, 2024, was $10.6 million, a decrease of $0.7 million or 6% compared to $11.3 million in the same period in 2023[163]. - The company incurred a net loss of $17.3 million during the nine months ended September 30, 2024, with negative cash flow from operating activities amounting to $8.7 million[190]. - The company expects to continue investing in research and development, which may lead to further operating losses in the near future[187]. Cash Flow and Liquidity - As of September 30, 2024, the company had cash and cash equivalents totaling $47.7 million, sufficient to meet foreseeable liquidity needs for at least the next twelve months[182]. - During the nine months ended September 30, 2024, the company generated $6.1 million from investing activities, primarily from short-term investment maturities[194]. - Financing activities used $0.1 million of cash during the nine months ended September 30, 2024, primarily for employee tax payments on RSU vesting[196]. Strategic Partnerships and Market Focus - The automotive market represents a large portion of Cepton's total addressable market, with ongoing discussions with all top 10 global automotive OEMs to secure series production awards[145][140]. - The company is focused on mass-market lidar solutions for advanced driver assistance systems (ADAS), which is projected to be the largest market opportunity for lidar applications over the next decade[127]. - Cepton's strategic partnerships with system integrators are aimed at driving the adoption of lidar solutions in smart infrastructure applications, which are expected to grow at a faster pace than in the automotive market[141]. - The average selling price of lidar solutions in the smart infrastructure market is expected to be higher than in the automotive space due to customization and integration requirements[143]. Economic Environment and Future Outlook - The global economic environment remains volatile, influenced by inflation, geopolitical conflicts, and consumer confidence, which may impact Cepton's business performance[130]. - The company entered into a merger agreement with Koito, expected to close in the first quarter of 2025, which will increase liquidity and capital resources[184][185]. - The company issued 100,000 shares of Preferred Stock to Koito for a purchase price of $100.0 million, with the Preferred Stock convertible into common stock starting January 19, 2024[183]. - The company recorded a $0.3 million expense in other (expense) income, net for the three months ended September 30, 2024, due to project loss claims related to the GM series production award cancellation[180]. - The company realized $4.0 million of cost recovery during the nine months ended September 30, 2024, related to the cancellation of purchase orders from GM[186]. - The company had an accumulated deficit of $151.9 million as of September 30, 2024, reflecting significant operating losses in the past[187]. - Lidar sensor and prototype cost of revenue decreased by $4.3 million, or 61%, to $2.8 million for the nine months ended September 30, 2024, from $7.1 million for the same period in 2023[170]. - Foreign currency transaction loss, net of $0.8 million was recorded during the nine months ended September 30, 2023, due to the repayment of the Secured Term Loan with Koito, which was denominated in Japanese Yen[178].

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