RADNOR, Pa., Sept. 17, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Illinois against Methode Electronics, Inc. ("Methode") (NYSE:MEI) on behalf of investors who purchased or otherwise acquired Methode common stock between June 23, 2022 and March 6, 2024, inclusive (the "Class Period") The lead plaintiff deadline is October 25, ...

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Methode Electronics, Inc. due to allegations of violations of federal securities laws, with a deadline for investors to seek lead plaintiff status in a class action lawsuit by October 25, 2024 [2][4]. Group 1: Allegations Against Methode Electronics - The complaint alleges that Methode Electronics made false and misleading statements and failed to disclose significant operational issues, including the loss of skilled employees during the COVID-19 pandemic, which affected its production transition [4]. - The company faced production planning deficiencies, inventory shortages, and vendor problems while attempting to diversify its product offerings, particularly in the electric vehicle sector [4]. - Methode Electronics' manufacturing systems at its Monterrey facility suffered from logistical defects, including improper system coding and shipping errors, which hindered its operational efficiency [4]. - The company fell behind on launching new electric vehicle programs, impacting its revenue generation from these initiatives [4]. - As a result of these issues, Methode Electronics was not on track to meet its 2023 earnings-per-share guidance or its projected organic sales growth rate [4]. Group 2: Stock Price Reactions - Following the announcement of COO Joseph Khoury's leave on July 14, 2023, Methode Electronics' stock price dropped by $0.53, or 1.57%, closing at $33.27 [5]. - After Khoury's termination on December 7, 2023, the stock price fell by $2.27, or 9.27%, to close at $22.13 [6]. - On March 7, 2024, the company reported third-quarter results that missed expectations, leading to a significant stock price decline of $6.55, or 31.13%, closing at $14.49 [7][8].

Core Viewpoint - Methode Electronics, Inc. is facing a class action securities lawsuit due to alleged securities fraud that affected investors between June 23, 2022, and March 6, 2024 [1][2]. Group 1: Allegations of Fraud - The lawsuit claims that Methode Electronics made false statements and concealed significant issues during the COVID-19 pandemic, including the loss of skilled employees necessary for transitioning production models [2]. - The company reportedly faced production planning deficiencies, inventory shortages, and supplier problems while attempting to diversify its product offerings, particularly in the electric vehicle (EV) sector [2]. - Manufacturing systems at the Monterrey facility were said to suffer from logistical defects, including improper system coding and shipping errors, which hindered timely revenue from new EV programs [2]. - As a result of these issues, Methode Electronics was not on track to meet its 2023 diluted earnings per share guidance or achieve a 6% organic sales CAGR over three years, indicating that these estimates lacked a reasonable factual basis [2]. Group 2: Legal Proceedings - Investors who suffered losses during the specified timeframe have until October 25, 2024, to request appointment as lead plaintiff in the lawsuit [3]. - Participation in the lawsuit does not require any out-of-pocket costs or fees for class members [3]. Group 3: Law Firm Background - Levi & Korsinsky, LLP has a history of securing significant settlements for shareholders and is recognized as one of the top securities litigation firms in the United States [4].

RADNOR, Pa., Sept. 16, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been against Methode Electronics, Inc. ("Methode") (NYSE:MEI) on behalf of investors who purchased or otherwise acquired Methode common stock between June 23, 2022 and March 6, 2024, inclusive (the "Class Period") The lead plaintiff deadline is October 25, 2024. CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP: If you suffered Methode losses, yo ...

NEW YORK, Sept. 16, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Methode Electronics, Inc. (NYSE: MEI). Shareholders who purchased shares of MEI during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/methode-electronics-inc-loss-submission-form/?id=102395&from=4 CLASS PERIOD: Ju ...

NEW YORK, Sept. 14, 2024 (GLOBE NEWSWIRE) -- __________________ WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Methode Electronics, Inc. (NYSE: MEI) between June 23, 2022 and March 6, 2024, both dates inclusive (the "Class Period"), of the important October 25, 2024 lead plaintiff deadline. SO WHAT: If you purchased Methode common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a conti ...

SAN DIEGO, Sept. 13, 2024 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed on behalf of purchasers or acquirers of Methode Electronics, Inc. (NYSE: MEI) ("Methode" or the "Company") securities between June 23, 2022 and March 6, 2024, inclusive (the "Class Period"), charging the Company and certain of its former senior executives with violations of the federal securities laws (collectively, "Defendants"). Methode investors have until October 25, 2024 to seek appointment as lead plaintiff of the Meth ...

RADNOR, Pa., Sept. 11, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Illinois against Methode Electronics, Inc. ("Methode") (NYSE:MEI) on behalf of investors who purchased or otherwise acquired Methode common stock between June 23, 2022 and March 6, 2024, inclusive (the "Class Period") The lead plaintiff deadline is October 25, ...

LOS ANGELES, Sept. 11, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Methode Electronics, Inc. ("Methode" or "the Company") (NYSE: MEI) violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between June 23, 2022 and March 6, 2024, inclusive (the "Class Period"), ar ...

CHICAGO, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting, and power distribution applications, will present at the Sidoti Small Cap Conference on Wednesday, September 18th at 2:30 p.m. EDT. A simultaneous webcast can be accessed on the company's website, www.methode.com, by selecting the Investors page. The webcast will also be archived on the same Investors page. About Methode Electronics, In ...