NEW
YORK, Feb. 10, 2025 /PRNewswire/ -- Kuehn
Law, PLLC, a shareholder litigation law firm, is investigating
whether certain officers and directors of Methode Electronics,
Inc. (NYSE: MEI) breached their fiduciary duties to
shareholders.
According to a federal securities lawsuit, Methode insiders
caused the company to misrepresent or fail to disclose that (i)
Methode Electronics lost skilled employees during the COVID-19
pandemic, hindering their transition to a high mix, low volume
production model at Monterrey; (ii) Efforts to diversify from
General Motors center consoles to specialized EV products faced
planning issues, inventory shortages, supplier problems, and poor
execution; (iii) The Monterrey facility's manufacturing systems had
logistical defects, including coding errors, shipping mistakes,
delivery delays, and quality control issues; (iv) deadlines were
missed on launching new EV programs, delaying revenue; (v)
Consequently, Methode Electronics was not on track to meet its 2023
earnings-per-share guidance or the projected 6% organic sales
growth rate.
If you currently own MEI and purchased prior to June 23, 2022
please contact Justin Kuehn,
Esq. here, by email at justin@kuehn.law or
call (833) 672-0814. Kuehn Law
pays all case costs and does not charge its investor clients.
Shareholders should contact the firm immediately as there may be
limited time to enforce your rights.
Why Your Participation Matters:
As a shareholder your voice matters, and by getting involved,
you contribute to the integrity and fairness of the financial
markets. Your investment. Your voice. Your
future.™
For additional information, please visit Shareholder Derivative
Litigation - Kuehn Law.
Attorney advertising. Prior results do not guarantee similar
outcomes.
Contacts:
Kuehn Law, PLLC
Justin Kuehn, Esq.
53 Hill Street, Suite 605
Southampton, NY 11968
justin@kuehn.law
(833) 672-0814
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SOURCE Kuehn Law, PLLC
