Le Lézard
Classified in: Covid-19 virus
Subject: ATY

MEI Investors Have Opportunity to Lead Methode Electronics, Inc. Securities Fraud Lawsuit


NEW YORK, Oct. 5, 2024 /PRNewswire/ -- 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 contingency fee arrangement.

What to do next: To join the Methode class action, go to https://rosenlegal.com/submit-form/?case_id=21318 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 25, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Details of the case: According to the lawsuit, during the Class Period, defendants made 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, Mexico facility; (2) Methode's attempts to replace its General Motors ("GM") center console production with more diversified, specialized products for a wider array of vehicle manufacturers and Original Equipment Manufacturers ("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 of the foregoing, Methode was not on track to achieve the 2023 diluted earnings per share ("EPS") guidance or the 3-year 6% organic sales compound annual growth rate ("CAGR") represented to investors and such estimates lacked a reasonable factual basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Methode class action, go to https://rosenlegal.com/submit-form/?case_id=21318 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.


These press releases may also interest you

4 nov 2024
Black Book Research, the leading source for unbiased, crowdsourced...

4 nov 2024
On October 29, 2024, a class action lawsuit was filed against financial technology company Lendistry, accusing it of severe privacy and data protection violations. The suit alleges that Lendistry mishandled sensitive information from over 17,000...

4 nov 2024
Toromont Industries Ltd. today reported its financial results for the third quarter ended September 30, 2024. Three months ended...

4 nov 2024
Report on how AI is redefining market landscape - The Global Rem sleep behavior disorder market  size is estimated to grow by USD 438.6 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.7%  during the...

4 nov 2024
Pizza Pizza Royalty Corp. (the "Company") , which indirectly owns the Pizza Pizza and Pizza 73 Rights and Marks, released financial results today for the three months ("Quarter") and nine months ("Period") ended September 30, 2024. Third Quarter...

4 nov 2024
Jericho Energy Ventures Inc. (FRA:JLM) ("Jericho", "JEV" or the "Company") is pleased to announce that its Board of Directors has approved Management's plan to separate Jericho's hydrogen solutions platform (the...



News published on and distributed by: