MEI INVESTOR ALERT: Bronstein, Gewirtz and Grossman, LLC Announces that Methode Electronics, Inc. Stockholders with Substantial Losses Have Opportunity to Lead Class Action Lawsuit!

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]