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NEW YORK CITY, NY / ACCESSWIRE / September 19, 2024 / Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Methode Electronics, Inc. ("Methode Electronics" or "the Company") (NYSE:MEI) and certain of its officers.
Class Definition
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Methode Electronics securities between June 23, 2022, and March 6, 2024, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/MEI.
Case Details
The Methode Electronics class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Methode Electronics had lost highly skilled and experienced employees during the COVID-19 pandemic necessary to successfully complete Methode Electronics' transition from its historic low mix, high volume production model to a high mix, low production model at its Monterrey facility; (2) Methode Electronics' 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 Electronics' strategic plans; (3) Methode Electronics' 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 Electronics had fallen substantially behind on the launch of new EV programs out of its Monterrey facility, preventing Methode Electronics from timely receiving revenue from new EV program awards; and (5) as a result, Methode Electronics 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.
What's Next?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/MEI or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Methode Electronics you have until October 25, 2024, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
Attorney advertising. Prior results do not guarantee similar outcomes.
Contact
Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Nathan Miller332-239-2660 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
View the original press release on accesswire.comNEW YORK, NY / ACCESSWIRE / September 18, 2024 / If you suffered a loss on your Methode Electronics, Inc. (NYSE:MEI) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:
https://zlk.com/pslra-1/methode-electronics-inc-lawsuit-submission-form?prid=103682&wire=1
or contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or call (212) 363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: A class action securities lawsuit was filed against Methode Electronics, Inc. that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between June 23, 2022 and March 6, 2024.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (a) during the COVID-19 pandemic, the Company had lost highly skilled and experienced employees necessary to successfully complete the Company's transition from its historic low mix, high volume production model to a high mix, low production model at its Monterrey facility; (b) the Company's attempts to replace its GM center console production with more diversified, specialized products for a wider array of vehicle manufacturers and original equipment manufacturers, particularly in the EV space, had been plagued by production planning deficiencies, inventory shortages, vendor and supplier problems, and, ultimately, botched execution of the Company's strategic plans; (c) the Company'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; (d) the Company had fallen substantially behind on the launch of new EV programs out of its Monterrey facility, preventing the Company from timely receiving revenue from new EV program awards; and (e) as a result of (a)-(d) above, the Company was not on track to achieve the 2023 diluted earnings per share guidance or the 3-year 6% organic sales CAGR represented to investors, and such estimates lacked a reasonable factual basis.
WHAT'S NEXT? If you suffered a loss in Methode Electronics stock during the relevant time frame - even if you still hold your shares - go to https://zlk.com/pslra-1/methode-electronics-inc-lawsuit-submission-form?prid=103682&wire=1 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. Ed Korsinsky, Esq. 33 Whitehall Street, 17th Floor New York, NY 10004jlevi@levikorsinsky.com Tel: (212) 363-7500 Fax: (212) 363-7171https://zlk.com/
SOURCE: Levi & Korsinsky, LLP
View the original press release on accesswire.comRadnor, Pennsylvania--(Newsfile Corp. - September 18, 2024) - The law firm of Kessler Topaz Meltzer & Check, LLP (https://api.newsfilecorp.com/redirect/NBDgLs4zzY) (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 (https://api.newsfilecorp.com/redirect/DZPQ4sM77O) or go to: https://www.ktmc.com/new-cases/methode-electronics-inc...
Please CLICK HERE (https://api.newsfilecorp.com/redirect/V7GWKs4o0B) 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. (https://api.newsfilecorp.com/redirect/4QraZFzD5A) by calling (484) 270-1453 or by email at info@ktmc.com.
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.
THE LEAD PLAINTIFF PROCESS: Methode investors may, no later than October 25, 2024, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP (https://api.newsfilecorp.com/redirect/jprW1iJ4BE) or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check, LLP (https://api.newsfilecorp.com/redirect/v15bYiY7JN) encourages Methode investors who have suffered significant losses to contact the firm directly to acquire more information.
CLICK HERE (https://api.newsfilecorp.com/redirect/JgRomcD5L2) TO SIGN UP FOR THE CASE OR GO TO: https://www.ktmc.com/new-cases/methode-electronics-inc...
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP: Kessler Topaz Meltzer & Check, LLP (https://api.newsfilecorp.com/redirect/QOz0KH2rOW) prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP (https://api.newsfilecorp.com/redirect/m34bwIAgWA) please visit www.ktmc.com.
CONTACT: Kessler Topaz Meltzer & Check, LLP Jonathan Naji, Esq.
(484) 270-1453 280 King of Prussia Road Radnor, PA 19087 info@ktmc.com
May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223759
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:
CLASS PERIOD: June 23, 2022 to March 6, 2024
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (a) during the COVID-19 pandemic, the Company had lost highly skilled and experienced employees necessary to successfully complete the Company’s transition from its historic low mix, high volume production model to a high mix, low production model at its Monterrey facility; (b) the Company’s attempts to replace its GM center console production with more diversified, specialized products for a wider array of vehicle manufacturers and original equipment manufacturers, particularly in the EV space, had been plagued by production planning deficiencies, inventory shortages, vendor and supplier problems, and, ultimately, botched execution of the Company’s strategic plans; (c) the Company’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; (d) the Company had fallen substantially behind on the launch of new EV programs out of its Monterrey facility, preventing the Company from timely receiving revenue from new EV program awards; and (e) as a result of (a)-(d) above, the Company was not on track to achieve the 2023 diluted earnings per share guidance or the 3-year 6% organic sales CAGR represented to investors, and such estimates lacked a reasonable factual basis.
DEADLINE: October 25, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/methode-electronics-inc-loss-submission-form/?id=103169&from=3
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of MEI during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is October 25, 2024. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:The Gross Law Firm15 West 38th Street, 12th floorNew York, NY, 10018Email: dg@securitiesclasslaw.comPhone: (646) 453-8903
RADNOR, PA / ACCESSWIRE / September 18, 2024 / 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, 2024.
CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:
If you suffered Methode losses, you mayCLICK HEREor go to:https://www.ktmc.com/new-cases/methode-electronics-inc?utm_campaign=mei&mktm=r?utm_source=PR&utm_medium=link&utm_campaign=mei&mktm=r
PleaseCLICK HEREto view our video or copy and paste this link into your browser:https://youtu.be/Reeq03UZl0Q
You can also contact attorneyJonathan Naji, Esq.by calling (484) 270-1453 or by email atinfo@ktmc.com.
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.
THE LEAD PLAINTIFF PROCESS:
Methodeinvestors may, no later than October 25, 2024, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLPor other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check, LLPencourages Methode investors who have suffered significant losses to contact the firm directly to acquire more information.
CLICK HERETO SIGN UP FOR THE CASE OR GO TO:https://www.ktmc.com/new-cases/methode-electronics-inc?utm_campaign=mei&mktm=r?utm_source=PR&utm_medium=link&utm_campaign=mei&mktm=r
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLPprosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLPplease visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP Jonathan Naji, Esq. (484) 270-1453 280 King of Prussia Road Radnor, PA 19087info@ktmc.com
May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.
SOURCE: Kessler Topaz Meltzer & Check, LLP
View the original press release on accesswire.comWhite Label
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