Pomerantz Law Firm Announces the Filing of a Class Action Against Cepton, Inc. and Certain Officers - CPTN

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]