Thu Sep 26 13:30:00 UTC 2024: ## Law Firm Files Class Action Suit Against Methode Electronics Over Stock Losses

**PHILADELPHIA, Sept. 26, 2024 (GLOBE NEWSWIRE)** – Barrack, Rodos & Bacine, a law firm specializing in securities litigation, announced today that they have filed a class action lawsuit against Methode Electronics (NYSE: MEI) on behalf of investors who purchased stock in the company between June 23, 2022, and March 6, 2024.

The lawsuit alleges that Methode misled investors about the financial performance of its automotive segment, specifically regarding its Monterrey facility. On March 7, 2024, the company announced disappointing third-quarter results, including a significant loss from operations in its automotive segment. They also withdrew their prior guidance, citing “operational difficulties” at the Monterrey facility. This news caused Methode’s stock price to plummet 31%, from $21.04 per share to $14.49 per share.

The lawsuit claims that Methode’s statements regarding its financial health and the performance of the Monterrey facility were false and misleading. Investors who suffered losses during the Class Period are encouraged to contact the law firm to learn more about their rights.

Barrack, Rodos & Bacine has a long history of successfully representing investors in securities litigation, achieving some of the largest recoveries in U.S. history. They have a proven track record of holding companies accountable for misleading investors and are confident in their ability to fight for justice on behalf of those affected by Methode’s alleged actions.

Investors have until October 25, 2024, to submit a motion to be appointed as lead plaintiff in the lawsuit.

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