Lawsuit Filed for Investors in Methode Electronics, Inc. (NYSE: MEI) Shares – Contact Shareholders Foundation

Investors in Methode Electronics, Inc. (NYSE: MEI) are facing a legal battle as a lawsuit has been filed against the company. The lawsuit alleges that Methode Electronics’ strategic plans to diversify its production and cater to a wider array of vehicle manufacturers, especially in the electric vehicle space, have been marred by production planning deficiencies, inventory shortages, and logistical defects at its Monterrey facility.

The plaintiff claims that Methode Electronics failed to achieve its earnings-per-share guidance for 2023 and the 3-year organic sales growth rate as promised to investors. This has led to allegations of false and misleading statements by the company’s management.

Investors who purchased shares of NYSE: MEI are urged to contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554. The deadline for certain investors is October 25, 2024.

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 legal news related to the stock market. It is important for investors to stay informed and take necessary action in such situations to protect their investments.