SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Methode Electronics Inc. - MEI

NEW YORK, Dec. 14, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of Methode Electronics Inc. (“Methode” or the “Company”) (NYSE: MEI).   Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.   

The investigation concerns whether Methode and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

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On July 14, 2023, Methode announced that “[o]n July 10, 2023, Joseph Khoury was placed on leave from his position as Chief Operating Officer . . . , and his powers, authority and duties as such officer of the Company were suspended.”  On this news, Methode’s stock price fell $0.53 per share, or 1.57%, to close at $33.27 per share on July 14, 2023. 

Then, on December 7, 2023, Methode announced that the Company had removed Joseph Khoury from his position as Chief Operating Officer and terminated him as an employee.   On this news, Methode’s stock price fell $2.27 per share, or 9.27%, to close at $22.13 per share on December 7, 2023. 

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.   

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CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980