SAN DIEGO, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Methode Electronics, Inc. (NYSE: MEI) common stock between June 23, 2022 and March 6, 2024. Methode designs, engineers, and produces mechatronic products for Original Equipment Manufacturers ("OEMs"). For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegation ...

Core Viewpoint - Rosen Law Firm has announced a class action lawsuit on behalf of purchasers of Methode Electronics, Inc. common stock during the specified Class Period, highlighting potential investor compensation opportunities [2][3]. Group 1: Lawsuit Details - The class action lawsuit pertains to stock purchases made between June 23, 2022, and March 6, 2024, and aims to address misleading statements made by Methode Electronics during this period [2]. - Investors who purchased Methode common stock during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [3]. Group 2: Allegations Against Methode Electronics - The lawsuit alleges that Methode Electronics made false and misleading statements regarding its operational challenges, including the loss of skilled employees during the COVID-19 pandemic, which affected its production transition [6]. - It is claimed that Methode faced significant production planning deficiencies, inventory shortages, and vendor issues while attempting to diversify its product offerings, particularly in the electric vehicle sector [6]. - The manufacturing systems at Methode's Monterrey facility reportedly suffered from logistical defects, including improper system coding and quality control failures, which hindered the launch of new electric vehicle programs [6]. - As a result of these issues, Methode is alleged to have fallen behind on its earnings guidance and growth projections, leading to investor damages when the true situation became known [6].

NEW YORK, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Methode Electronics, Inc. (NYSE:MEI) and certain of the Company's senior executives. If you invested in Methode, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/methode-electronics-inc. Investors have until October 25, 2024 to ask the Court to be appointed to lead the case. The complaint asserts claims u ...

Core Viewpoint - A class action lawsuit has been filed against Methode Electronics Inc. for alleged failures in transitioning its production model and executing strategic plans, impacting its financial performance and stockholder value [1][3]. Group 1: Lawsuit Details - The lawsuit is on behalf of all individuals and entities who purchased Methode Electronics securities between June 23, 2022, and March 6, 2024 [1]. - Investors have until October 25, 2024, to apply to be appointed as lead plaintiff in the lawsuit [1]. Group 2: Allegations Against Methode Electronics - Methode Electronics lost skilled employees during the COVID-19 pandemic, hindering its transition from a low mix, high volume production model to a high mix, low production model at its Monterrey facility [3]. - The company faced production planning deficiencies, inventory shortages, and vendor issues while attempting to diversify its product offerings, particularly in the electric vehicle sector [3]. - Manufacturing systems at the Monterrey facility experienced logistical defects, including improper system coding and shipping errors, which affected quality control and procurement of raw materials [3]. - Methode Electronics fell behind on launching new electric vehicle programs, delaying revenue from these initiatives [3]. - The company is not on track to meet its 2023 diluted earnings-per-share guidance or the projected 6% organic sales compound annual growth rate, indicating a lack of reasonable factual basis for these estimates [3].

Core Viewpoint - A class action lawsuit has been filed against Methode Electronics, Inc. for alleged violations of federal securities laws during the defined Class Period from June 23, 2022, to March 6, 2024 [1][2] Group 1: Allegations Against Methode Electronics - The lawsuit claims that Methode Electronics made false or misleading statements and failed to disclose significant issues, including the loss of skilled employees during the COVID-19 pandemic, which impacted its transition to a new production model [3] - Allegations include that the company's efforts to diversify its product offerings, particularly in the electric vehicle sector, faced numerous challenges such as production planning deficiencies, inventory shortages, and supplier problems [3] - The manufacturing systems at Methode Electronics' Monterrey facility reportedly suffered from logistical defects, including improper system coding and quality control failures, which hindered the launch of new electric vehicle programs [3] - As a result of these issues, Methode Electronics is said to be off track to meet its 2023 earnings-per-share guidance and a projected 6% organic sales compound annual growth rate [3] Group 2: Legal Proceedings and Next Steps - Investors who suffered losses in Methode Electronics have until October 25, 2024, to request appointment as lead plaintiff in the class action lawsuit [4] - The law firm representing the investors operates on a contingency fee basis, meaning they will only recover costs if successful in the lawsuit [5] - Bronstein, Gewirtz & Grossman, LLC is a recognized firm specializing in securities fraud class actions and has a history of recovering significant amounts for investors [6]

NEW YORK, Aug. 27, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Methode Electronics, Inc.. ("Methode" or the "Company") (NYSE: MEI). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. The class action concerns whether Methode and certain of its off ...

Core Points - A shareholder class action lawsuit has been filed against Methode Electronics, alleging false and misleading statements regarding the company's operational challenges during the transition to a new production model [1] - The lawsuit claims that Methode lost skilled employees during the COVID-19 pandemic, which impacted its ability to transition from a high-volume to a low-volume production model [1] - Allegations include production planning deficiencies, inventory shortages, and logistical defects at the Monterrey facility, which hindered the launch of new electric vehicle (EV) programs [1] - The company is reportedly behind on achieving its 2023 diluted EPS guidance and a 6% organic sales CAGR over three years, as communicated to investors [1] Company Challenges - Methode's transition to a high mix, low production model has been complicated by the loss of experienced employees [1] - The company faced issues with production planning, inventory shortages, and vendor problems, particularly in the EV sector [1] - Logistical defects at the Monterrey facility included improper system coding, shipping errors, and quality control failures [1] Financial Implications - The lawsuit suggests that Methode is not on track to meet its financial guidance for 2023, which could impact investor confidence and stock performance [1]

SAN DIEGO, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Methode Electronics, Inc. (NYSE: MEI). If you incurred significant losses and want to act as the lead plaintiff in the Methode Electronics class action lawsuit or determine if you are eligible to receive a potential recovery of your losses, please submit your details here: SUBMIT YOUR INFORMATION NOW CLASS PERIOD: June 23, 2022 and March 6 ...

Core Viewpoint - Methode Electronics, Inc. is facing a class action lawsuit for alleged violations of the Securities Exchange Act of 1934, with claims related to misleading statements and operational failures during a critical transition period [1][4]. Company Overview - Methode Electronics designs, engineers, and produces mechatronic products for Original Equipment Manufacturers (OEMs) [3]. Allegations Summary - The lawsuit alleges that Methode Electronics lost skilled employees during the COVID-19 pandemic, impacting its transition from a low mix, high volume production model to a high mix, low production model at its Monterrey facility [4]. - The company faced production planning deficiencies, inventory shortages, and vendor issues while attempting to diversify its product offerings, particularly in the electric vehicle (EV) sector [4]. - Manufacturing systems at the Monterrey facility reportedly suffered from logistical defects, including improper system coding and shipping errors, which hindered timely revenue from new EV programs [4]. - Methode Electronics is alleged to have fallen behind on launching new EV programs, affecting its ability to meet 2023 earnings guidance and a projected 6% organic sales compound annual growth rate [4]. Legal Process - Investors who purchased Methode Electronics common stock during the specified class period can seek appointment as lead plaintiff in the class action lawsuit, with a deadline of October 25, 2024 [2][6]. - The lead plaintiff will represent the interests of all class members and can select a law firm for litigation [6]. Law Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm in securities fraud cases, having secured over $6.6 billion for investors in class action cases, and is recognized for its significant recoveries in securities litigation [7].

Company Overview - Methode Electronics, Inc. is a leading global supplier of custom-engineered solutions for user interface, LED lighting systems, and power distribution applications [5] - The company operates in various end markets including transportation, cloud computing infrastructure, construction equipment, and consumer appliances [6] - Methode Electronics is structured into segments: Automotive, Industrial, and Interface [6] Upcoming Financial Results - The company will release its first quarter fiscal 2025 results for the period ended July 27, 2024, on September 5, 2024, before the market opens [1] - A conference call and webcast will follow the results announcement, led by CEO Jon DeGaynor and Interim CFO David Rawden at 10:00 a.m. CDT [2] Participation Details - To participate in the conference call, interested parties should dial 888-506-0062 (domestic) or 973-528-0011 (international) at least five minutes prior to the start [3] - A simultaneous webcast will be available on the company's website [3] Replay Information - A replay of the teleconference will be available shortly after the call through September 19, 2024, by dialing 877-481-4010 with passcode 51071 [4] - A webcast replay will also be accessible on the company's website [4]