Kessler Topaz files class action against Methode Electronics by October 25

Kessler Topaz Meltzer & Check, LLP has filed a securities class action lawsuit against Methode Electronics, Inc. on behalf of investors who acquired Methode common stock between June 23, 2022, and March 6, 2024. The lawsuit alleges that the company made misleading statements and failed to disclose significant operational issues during this period. These issues included the loss of skilled employees, production planning deficiencies, and logistical defects at their Monterrey facility, which hindered their transition to a new production model. The complaint highlights that Methode's attempts to diversify its product offerings, particularly in the electric vehicle sector, were marred by various challenges, including inventory shortages and vendor problems. As a result, the company fell behind on launching new EV programs, which impacted its revenue generation and overall financial performance. Investors were misled about the company's ability to meet its earnings guidance and growth projections. Investors have until October 25, 2024, to apply to be lead plaintiffs in the class action. A lead plaintiff represents the interests of all class members and plays a crucial role in directing the litigation. Those who choose not to participate will remain as absent class members but can still benefit from any recovery achieved in the lawsuit. Kessler Topaz Meltzer & Check, LLP is known for prosecuting class actions to protect investors and consumers from corporate misconduct. The firm emphasizes that past results do not guarantee future outcomes, and the complaint was not filed by them, indicating their role as legal representatives for the affected investors.