MONSEY, N.Y. , July 29, 2024 (GLOBE NEWSWIRE) — The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Cepton, Inc. (Nasdaq: CPTN) (“Cepton”) to Koito Manufacturing (“Koito”) for $3.17 per share in cash. The sales price is below the price targets of $14.00 per share of Tom Narayan of RBC Capital, and $10.00 per share of Gus Richard of Northland Securities. It is also below Cepton’s 52-week high of $8.90 per share.
If you remain a Cepton shareholder and question the fairness of the price, you may contact our firm at the following link to discuss your legal rights at no charge:
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On July 29, 2024, Cepton announced that it had agreed to be sold to Koito for $3.17 per share in cash.
Notably, the sales price is below the price targets of $14.00 per share of Tom Narayan of RBC Capital, and $10.00 per share of Gus Richard of Northland Securities.
The sales price is also below Cepton’s 52-week high of $8.90 per share, which indicates that Koito’s purchase may be opportunistic to take advantage of a temporary downturn in Cepton’s share price.
“We are investigating whether the Cepton Board of Directors acted in the best interests of Cepton shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Cepton shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”
About Wohl & Fruchter
Wohl & Fruchter LLP has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
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