MEI Class Action Lawsuit Reminder: Kessler Topaz Meltzer & Check, LLP Reminds Methode Electronics, Inc. (MEI) Investors that a Securities Fraud Class Action Lawsuit Has Been Filed

Radnor, Pennsylvania--(Newsfile Corp. - September 13, 2024) - The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed 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, you may CLICK HERE or go to: https://www.ktmc.com/new-cases/methode-electronics-inc?utm_campaign=me ...

Please CLICK HERE to view our video or copy and paste this link into your browser: https://youtu.be/Reeq03UZl0Q

You can also contact attorney Jonathan Naji, Esq. by calling [phone] or by email at [e-mail].

DEFENDANTS' ALLEGED MISCONDUCT:

The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Methode had lost highly skilled and experienced employees during the COVID-19 pandemic necessary to successfully complete Methode's transition from its historic low mix, high volume production model to a high mix, low production model at its Monterrey facility; (2) Methode's attempts to replace its General Motors center console production with more diversified, specialized products for a wider array of vehicle manufacturers and OEMs, in particular in the electric vehicle ("EV") space, had been plagued by production planning deficiencies, inventory shortages, vendor and supplier problems, and, ultimately, botched execution of Methode's strategic plans; (3) Methode's manufacturing systems at its critical Monterrey facility suffered from a variety of logistical defects, such as improper system coding, shipping errors, erroneous delivery times, deficient quality control systems, and failures to timely and efficiently procure necessary raw materials; (4) Methode had fallen substantially behind on the launch of new EV programs out of its Monterrey facility, preventing Methode from timely receiving revenue from new EV program awards; and (5) as a result, Methode was not on track to achieve the 2023 diluted earnings-per-share guidance or the 3-year 6% organic sales compound annual growth rate represented to investors and such estimates lacked a reasonable factual basis.