NEW YORK, Sept. 26, 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=105018&from=4 CLASS PERIOD: Ju ...

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In Methode Electronics To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $75,000 in Methode Electronics between June 23, 2022 and March 6, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, Sep ...

RADNOR, Pa., Sept. 23, 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, ...

NEW YORK, Sept. 23, 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=104013&from=4 CLASS PERIOD: Ju ...

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Methode Electronics, Inc. due to alleged violations of federal securities laws, encouraging investors who suffered losses exceeding $75,000 to contact them directly [1][1][1] Company Overview - Methode Electronics, Inc. (NYSE: MEI) is facing a federal securities class action with a deadline for lead plaintiff applications set for October 25, 2024 [1][1][1] - The firm has a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [1] Allegations Against Methode Electronics - The complaint 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 [1][1][1] - The company faced production planning deficiencies, inventory shortages, and vendor issues while attempting to diversify its product offerings, particularly in the electric vehicle sector [1][1][1] - Manufacturing systems at the Monterrey facility suffered from logistical defects, including improper system coding and shipping errors [1][1][1] - Methode Electronics fell behind on launching new electric vehicle programs, affecting revenue from new program awards [1][1][1] - The company was not on track to meet its 2023 earnings-per-share guidance or the projected 6% organic sales compound annual growth rate [1][1][1] Stock Price Reactions - Following the announcement of COO Joseph Khoury's leave on July 14, 2023, Methode Electronics' stock price fell by $0.53 (1.57%) to $33.27 [1][1][1] - After Khoury's termination on December 7, 2023, the stock price dropped by $2.27 (9.27%) to $22.13 [1][1][1] - On March 7, 2024, the company reported a non-GAAP earnings per share of -$0.33, missing expectations by $0.41, and revenue of $259.5 million, missing by $28.53 million, leading to a stock price decline of $6.55 (31.13%) to $14.49 [1][1][1] Legal Proceedings - The lead plaintiff in the class action will be the investor with the largest financial interest who is typical of class members [1][1][1] - Any member of the class may move to serve as lead plaintiff or remain an absent class member without affecting their ability to share in any recovery [1][1][1] - Faruqi & Faruqi encourages individuals with information regarding Methode Electronics' conduct to come forward [1][1][1]

NEW YORK, Sept. 19, 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=103487&from=4 CLASS PERIOD: Ju ...

NEW YORK, Sept. 18, 2024 (GLOBE NEWSWIRE) -- 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=103169&from=3 CLASS PERIOD ...

Core Viewpoint - A securities class action lawsuit has been filed against Methode Electronics, Inc. for allegedly misleading investors regarding its operational challenges and financial performance during the Class Period from June 23, 2022, to March 6, 2024 [1]. Group 1: Allegations Against Methode Electronics - The lawsuit claims that Methode lost skilled employees during the COVID-19 pandemic, which hindered its transition from a low mix, high volume production model to a high mix, low production model at its Monterrey facility [3]. - It is alleged that Methode's efforts to diversify its product offerings, particularly in the electric vehicle sector, faced significant issues including production planning deficiencies, inventory shortages, and vendor problems [3]. - The complaint states that Methode's manufacturing systems at the Monterrey facility suffered from logistical defects, including improper system coding and shipping errors, which affected quality control and procurement of raw materials [3]. - Methode reportedly fell behind on launching new electric vehicle programs, impacting its revenue generation from these initiatives [3]. - As a result of these issues, Methode is claimed to be off track to meet its 2023 earnings-per-share guidance and the projected 6% organic sales growth rate over three years, indicating that these estimates lacked a reasonable factual basis [3]. Group 2: Legal Process and Investor Information - Investors in Methode have until October 25, 2024, to seek appointment as lead plaintiffs in the class action, which allows them to represent the interests of all class members [4]. - The lead plaintiff is typically the investor or group of investors with the largest financial interest in the case, who will select counsel to represent the class [4]. - Kessler Topaz Meltzer & Check, LLP encourages affected investors to contact them for more information regarding the lawsuit [5].

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].