SHAREHOLDER ALERT: Class Action Lawsuit Filed on Behalf of Methode Electronics, Inc. (MEI) Investors – Holzer & Holzer, LLC Encourages Investors With Significant Losses to Contact the Firm

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]