Deadline Approaching for Methode Electronics, Inc. (NYSE: MEI) Shareholders Lawsuit – Contact Shareholders Foundation for Information

Investors in Methode Electronics, Inc. (NYSE: MEI) are facing a critical deadline on October 25, 2024, in a lawsuit filed for certain investors who purchased shares of the company. The lawsuit alleges that Methode Electronics’ attempts to diversify its production and focus on electric vehicle (EV) components have been plagued by logistical issues and production planning deficiencies.

According to the lawsuit, Methode Electronics’ strategic plans to replace its General Motors center console production with more specialized products for a wider array of vehicle manufacturers and OEMs, particularly in the EV space, have been hindered by inventory shortages, vendor problems, and botched execution. The company’s Monterrey facility, crucial for manufacturing, has reportedly suffered from logistical defects and delays in launching new EV programs, leading to revenue setbacks.

Investors who purchased shares in excess of $100,000 of Methode Electronics, Inc. (NYSE: MEI) between June 23, 2022, and March 6, 2024, are encouraged to contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554 to explore their legal options.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service that provides information on shareholder issues, securities class actions, settlements, and other legal news related to the stock market. Investors should note that the Shareholders Foundation, Inc. is not a law firm and the information provided is for informational purposes only.

For more information, investors can contact Michael Daniels, Manager at mail@shareholdersfoundation.com or call 858-779-1554.

Source: Shareholders Foundation, Inc.