Ademi LLP is investigating Cepton (Nasdaq: CPTN) for possible breaches of fiduciary duty and other violations of law in its transaction with Koito.
Cepton stockholders will receive only $3.17 per share in cash. The transaction agreement unreasonably limits competing transactions for Cepton by imposing a significant penalty if Cepton accepts a competing bid. Cepton insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Cepton’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.