Cepton Hit With Shareholder Class Action Over Koito Acquisition

Cepton Inc. and its executives misled investors when it sought approval of a deal with Koito Manufacturing Co. Ltd. to acquire the company, according to a proposed shareholder class action.

Cepton CEO Jun Pei and other executives made materially false and misleading statements leading up to the deal closing, including concealing a third-party offer that valued Cepton at more than double Koito’s acquisition price, Lisa Kabula alleged in a complaint filed Tuesday in the US District Court for the Northern District of California.

Kabula seeks to represent a class of investors who acquired or sold Cepton stock between July 2024 ...